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Photo = Binggrae |
[Alpha Biz= Kim Jisun] Kim Ho-Yeon, Chairman of Binggrae and younger brother of Hanwha Group Chairman Kim Seung-Yeon, has sold his entire stake in Hanwha Corporation.
According to the electronic disclosure system on Monday, Kim Ho-Yeon offloaded all 124,567 common shares (0.16%) of Hanwha Corporation through a block deal on February 13.
The shares were sold at 39,200 KRW per share, totaling approximately 4.88 billion KRW (about $3.65 million).
Kim Ho-Yeon is the second son of Hanwha Group's late founder Kim Jong-Hee, among two sons and one daughter. After their father's passing in 1981 without a will, Kim Seung-Yeon took over as chairman. Kim Ho-Yeon challenged this succession, accusing his older brother of unfairly seizing the inheritance. The siblings were embroiled in a legal battle over group shares for several years.
However, they reconciled in 1995 at their grandmother’s funeral and their mother’s 70th birthday celebration, ultimately agreeing to a property division and dropping all lawsuits.
Industry observers believe the latest sale aims to reduce potential noise surrounding Hanwha’s succession process. Others view it as a profit-taking move, given Hanwha's stock surge driven by strong performance in the defense and shipbuilding sectors, which have remained resilient amid trade tensions fueled by former U.S. President Donald Trump. Hanwha shares have risen 64.5% this year.
AlphaBIZ Kim Jisun(stockmk2020@alphabiz.co.kr)
