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Hanmi semiconductor. (photo = Hanmi semiconductor) |
[Alpha Biz= Kim Jisun] Seoul, South Korea – April 22, 2025 – Hanmi Semiconductor announced on Tuesday that Chairman Kwak Dong-shin will gift approximately KRW 72.6 billion (USD 54 million) worth of shares to his two sons.
According to the company’s disclosure, Chairman Kwak plans to transfer a total of 966,142 shares—equivalent to a 1% stake in the company—to his sons on May 22. Each son will receive 483,071 shares, valued at KRW 36.28 billion per individual based on a share price of KRW 75,100.
The gifting of shares had reportedly been planned in advance. However, the timing appears strategic, as the current market price is relatively low, potentially reducing the overall gift tax burden. In South Korea, gift tax is calculated based on the average stock price over a two-month period before and after the date of the transfer, regardless of the number of shares. As such, a lower average price results in lower taxable value.
The gift tax must be paid within 90 days of the transfer date.
Following the transaction, Chairman Kwak's ownership will decrease from 34.01% to 33.01%, while each of his sons will see their individual stakes rise from 2.05% to 2.55%, according to the company’s latest annual report.
This move is seen as part of a long-term succession plan for one of South Korea’s leading semiconductor equipment manufacturers.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
