LF, Chairman Koo Bon-geol's Eldest Son's Company Goryeo D&L Increases Stake to 6.8%

[Asia Economy Reporter Jang Hyowon] LF disclosed on the 28th that its affiliate, Goryeo D&L, purchased 12,823 common shares on the open market.

Goryeo D&L is a landscaping company in which Gu Bong-geol, LF Chairman's eldest son, Gu Sung-mo, holds the majority of shares.

With this purchase, Goryeo D&L's holdings of LF shares increased to 1,987,823 shares, accounting for 6.8% of the total.

Goryeo D&L now holds the third-largest number of LF shares after Chairman Gu Bong-geol (19.11%) and former Vice Chairman of Goryeo Landscaping, Gu Bon-soon (8.55%).

Goryeo D&L was newly established through a spin-off from LF Networks in July.

Before the spin-off, LF Networks was essentially a family business with Chairman Gu Bong-geol and his family holding nearly 100% of the shares, but during the spin-off process, Gu Sung-mo acquired the majority of shares in Goryeo D&L.