 |
[Apha Biz=(Chicago) Reporter Paul Lee] Youngwon Trading, a mid-sized group with sales of 4.5 trillion won as of last year.
In March, controversy erupted over the dividend of shareholders of Yeongwon Trading Holdings, a holding company.
As the company suddenly changed its dividend accounting standards, shareholders' dividends were significantly lower than expected.
Stock prices fell nearly 8% the next day as investor sentiment faltered.
There have been a series of allegations that the company is pushing stock prices to lower management succession and gift taxes, but the company explained that it is to have its own capabilities as a holding company.
The target was YMSA, an unlisted company at the top of the group with a 29% stake in Youngwon Trading Holdings.
Sung Ki-hak, chairman of Youngwon Trading, handed over half of the company's stake to Sung's second daughter, Vice Chairman Sung Rae-eun, on March 31.
In the case of stock donation, the gift tax is calculated by evaluating the average price for two months before and after the donation date.
Vice Chairman Sung is believed to have been able to save much of his gift tax because stock prices fluctuated as the reduction in dividend propensity was recognized as a negative factor in the market.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
