[Alpha Biz=(Chicago) Reporter Kim Jisun] According to the industry on the 18th, Kim Seok-soo, chairman of Dongseo Food, recently donated a total of 1.2 million shares, 600,000 shares each, to his children, Kim Dong-wook and Kim Hyun-joon. This amounts to 21.648 billion won based on the closing price of the donation date (18,040 won).

Dongseo Group is the largest shareholder with a 67.38% stake in Dongseo, the holding company, by Chairman Kim, the second son of founder and honorary chairman Kim Jae-myung, and his eldest son, former adviser family. The largest individual shareholder is Kim Seok-soo, chairman of Dongseo Food, who currently holds 17.39%. With the donation of Kim's stake, Dong-wook's stake will be 3.2 percent and Hyun-joon's 2.9 percent. Kim previously donated 180,000 shares and 120,000 shares to Dong-wook and Hyun-joon, respectively, at the end of last year.

Chairman Kim is the largest individual, but the total stake held by the family of former East-West adviser Kim Sang-hun exceeds 40%. Former advisor Kim Sang-heon is currently the second largest shareholder with 16.25%, with his wife Han Hye-yeon holding 3.61% and his son, Vice President Kim Jong-hee, holding 14.14%. The combined stake held by the eldest daughter, second daughter, daughter-in-law and grandchildren stands at 7.82 percent, with the former adviser family's stake amounting to 41.82 percent.

Vice President Kim is currently the only one among the third generation of owners to participate in management. Vice President Kim is steadily increasing his stake through gifts and in-house purchases from former advisor Kim. As of December, the share increased from 12.59% at the end of last year to 1.15% point (P).

The Dongseo Group has been managing the brothers. Since former adviser Kim Sang-hun resigned, Chairman Kim Seok-soo also resigned as an auditor in 2018 and returned to the post of chairman of Dongseo Food in March this year. Dongseo Food, its flagship affiliate, is a joint venture held by Dongseo and U.S. food and beverage company Mondelis, with half of its stakes, and has the largest market share in the local mixed coffee market.

Meanwhile, Kim also donated his East-West shares to the Seoul National University Development Fund, Seoul National University Hospital and UNICEF Korea Committee. The Seoul National University Development Fund is worth 17,500 shares (323 million won), and Seoul National University Hospital and UNICEF Korea Committee are worth 5,000 shares (92 million won), respectively.

 

[ⓒ AlphaBIZ. 무단전재-재배포 금지]