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Seoul, Janggyo-dong Hanwha Building. (Photo: Hanwha Group) |
[Alpha Biz= Kim Jisun] Kim Dong-won, President, and Kim Dong-sun, Executive Vice President, the second and third sons of Hanwha Group Chairman Kim Seung-yeon, are selling portions of their shares in Hanwha Energy to financial investors (FIs).
According to Hanwha on the 16th, Kim Dong-won will sell about 5% of his stake, and Kim Dong-sun 15%, to a consortium including Hanwha Investment & Securities PE.
The eldest son, Kim Dong-kwan, will not participate in the sale, leaving Hanwha Energy’s shareholding structure as follows: Kim Dong-kwan 50%, Kim Dong-won about 20%, Kim Dong-sun 10%, and financial investors about 20%.
The transaction is valued at approximately KRW 1.1 trillion. The proceeds will be used by Kim Dong-won and Kim Dong-sun for paying inheritance taxes, other tax obligations, and new business investments.
Previously, Chairman Kim Seung-yeon had gifted 11.32% of Hanwha Corp.’s shares to his three sons, incurring inheritance taxes in the hundreds of billions of won. Selling part of their Hanwha Energy stakes allows the sons to secure cash to cover these taxes.
With Kim Dong-kwan not participating, analysts say this solidifies his position as the group’s sole heir. Hanwha Energy holds 22.15% of Hanwha Corp.’s shares, and some see the FI involvement as a preparatory step toward a potential IPO. Hanwha explained that the IPO would aim to enhance corporate and shareholder value while positioning the company as a global energy solutions provider.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
