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[Alpha Biz=(Chicago) Reporter Kim Jong Hyo] It has been confirmed that Sammok S-Form's minority shareholder solidarity has resumed protests for shareholder action.
According to Sammok S-Form (CEO Eom Seok-ho) on the 28th, the Korea Stock Investors Association (CEO Chung Eui-jung) and the Sammok S-Form Minority Shareholders' Solidarity protested in front of Acro Forest in Seongdong-gu, Seoul, where Sammok S-Form Chairman Kim Joon-nyeon resides, calling for the implementation of the right shareholder return policy.
A coalition of minority shareholders of Sammok S-Form and others claimed in an on-site protest that they are living in pain every day from paying back 30.7 billion won in loans they caused to receive a paid-in capital increase while the stock price, which was once 28,500 won, plunged 48 percent.
The Solidarity of Minority Shareholders also claimed that the reason why Sammok S-Form's asset value has grown to a mid-sized company of KRW 1.5115 trillion is due to borrowed management by Kim Yong-hyun, the father of Chairman Kim Joon-nyeon.
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The solidarity also urged the Sammok S-Form company to stop its deceptive tactics and make a forward-looking decision, saying it is meaningless to allocate 10,000 won in the short term due to the amount of loans for paid-in capital increase and high-interest interest.
Chung Eui-jung, CEO of Korea Investment Institute, told Alpha Biz, "Sammok S-Form has long been the worst investment-dodging item due to the greed of its major shareholder family, including Chairman Kim Joon-nyeon," adding, "Self-listing through open purchase after the purchase of treasury shares has emerged as the most realistic alternative."
AlphaBIZ 김종효(kei1000@alphabiz.co.kr)
