Amorepacific Group said on the 25th that Chair Seo Kyung-bae will gift 190,000 Amorepacific common shares he holds to his second daughter, Seo Ho-jung.
The shares being transferred this time amount to 0.27% of the total number of shares issued, valued at 30 billion won. The gift will take place on the 27th of next month, and Seo's equity stake will fall from 9.02% to 8.74%.
An Amorepacific official said, "This gift is to secure funds to pay the gift tax," adding, "There will be no change in the group's governance structure due to the gift."
After receiving Amorepacific Holdings shares as a gift from Seo in 2023, Seo Ho-jung has been paying the related taxes through an installment payment plan. If she receives additional shares this time, she plans to settle the remaining gift tax in a lump sum.
Previously, Seo sold all of her Amorepacific equity and part of her Amorepacific Holdings equity, raising about 10.1 billion won.
Meanwhile, Seo Ho-jung joined the Osulloc PD (Product Development) team as a new employee in July last year and is currently working as a team member (staff).