[Alpha Biz= Paul Lee] Seoul, South Korea – May 23, 2025 – Hyosung Heavy Industries Co., Ltd. (KRX: [Insert Ticker]) announced that Chairman Cho Hyun-Joon has sold approximately ₩259.6 billion worth of the company’s shares via a block deal to secure funds for inheritance tax payments.
According to the disclosure, Chairman Cho sold 456,903 shares, representing a 4.9% stake in Hyosung Heavy Industries. As a result, his ownership stake has decreased from 14.89% to 9.99%.
Market sources indicate that the shares were acquired by a U.S.-based tech fund, though the identity of the buyer has not been officially confirmed.
Following the transaction, Hyosung Corporation remains the largest shareholder with a 32.47% stake. Including related parties, the combined ownership of the largest shareholder group has declined from 48.91% to 44.01%.
The share sale was conducted to secure liquidity for inheritance tax liabilities, according to company officials.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
