[Alpha Biz= Kim Jisun] Hoban Group has recently acquired more than a 3% stake in LS Corp, the holding company of LS Group, signaling a move that could influence the conglomerate’s governance structure.
According to industry sources on the 27th, Hoban Group increased its shareholding in LS Corp to over 3% in April, up from below 3% as of March. This level of ownership entitles Hoban to exercise key shareholder rights under Korean Commercial Law, including the right to call an extraordinary general meeting, propose shareholder meeting agendas, inspect accounting records, and request the dismissal of directors, auditors, or liquidators.
Under the Korean Commercial Act (Articles 366 and 542), shareholders holding 3% or more of the total issued shares are granted enhanced rights aimed at strengthening shareholder governance and oversight.
This strategic equity acquisition could mark the beginning of closer involvement by Hoban Group in LS Corp’s decision-making processes, with potential implications for the group’s governance and future business strategies.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
