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[Alpha Biz=(Chicago) Reporter Kim Jisun] The bereaved family of the late Nexon founder Kim Jung-joo, who died in February last year, paid a 30% stake inherited to the government as inheritance tax. Payment in kind is a procedure in which heirs pay inheritance taxes with securities or real estate instead of cash according to certain requirements.
Nexon Group's holding company NXC announced on the 31st that the Ministry of Strategy and Finance held 852,190 shares, or 29.3% of the total stake, in February and became the second-largest shareholder.
As a result, the total stake held by founder Kim's bereaved family member, Yoo Jung-hyun, and his two daughters, decreased from 98.64% to 69.34%. Director Yoo's stake was 34%, the same as before, and the share ratio of his two children fell from 31.46% to 16.81%, respectively.
Earlier, director Yoo, the bereaved family of founder Kim, and his two children inherited 1.963 million shares of NXC in the name of founder Kim in September last year (67.49% stake at the time).
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As a result, director Yoo, who held a 29.43% stake in NXC before inheritance, became the largest shareholder of NXC with a 34% stake. The two children, who each owned 19,750 shares (0.68%), also inherited 895,305 shares at the time and held 31.46% of the NXC stake.
Yoo, who had been a NXC auditor for some time even after the stake inheritance, was appointed as an in-house director at a shareholders' meeting held in late March and will also participate in management in earnest. All rights, including voting rights for children's ownership of shares, were also delegated to the mother, director Yoo.
At one time, some in and outside the game industry predicted that the bereaved family of founder Kim would sell some of their shares to the outside world at the burden of inheritance tax worth 6 trillion won. However, rumors of the sale are expected to die down as the bereaved family decided to hand over about 30% of the stake to the government as inheritance tax.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
