Kwak Dong-sin, chairman of HANMI Semiconductor, decided to donate company shares worth 726 billion won to his two children.
HANMI Semiconductor announced on the 22nd that Chairman Kwak plans to donate 966,142 shares, equivalent to 1% of his holdings, to his two children. The planned donation date is set for next month on the 22nd.
Chairman Kwak is expected to divide 483,071 shares (0.5%) for each child. The disposal price is set at 75,100 won per share, which means each child will acquire equity worth 36,278,863,000 won. The total amount is 72,557,726,000 won.
Once the donation is made, the equity stakes of the two children in HANMI Semiconductor will expand from 2.05% to 2.55% each. Chairman Kwak's equity stake will decrease from the existing 34.01% (32,862,900 shares) to 33.01% (31,896,758 shares).