Modetour Network has become the second largest shareholder of the "travel solution corporation" Yanolja.
According to the Financial Supervisory Service's electronic disclosure system on the 26th, Yanolja recently raised its equity stake in Modetour Network to 5.26% through on-market purchases. As of the end of June last year, its equity stake was 4.5%.
The equity stake of Woo Jong-woong, the largest shareholder of Modetour Network, is 10.92%, leaving only a 5 percentage points (p) difference from Yanolja. This has led to speculation in the market that Yanolja is aiming for control of Modetour Network.
Woo's eldest son, Woo Jun-yeol, was appointed as CEO on the 24th, which is interpreted as a measure to defend management rights.
Regarding this, Yanolja stated that the reason for acquiring additional shares of Modetour Network is for simple investment purposes.