Amore Chairman Seokyung Bae Gifts 2.5% Stake Worth 64 Billion KRW to 'Second Daughter'

Seo Kyung-bae, Chairman of Amorepacific Group, gifted Amorepacific Group shares worth a total of 63.7 billion KRW to his second daughter, Seo Ho-jung.

Amorepacific Group (AmoreG) announced on the 4th that Chairman Seo gifted 672,000 common shares and 1,728,000 preferred shares to Seo. Based on the opening price that day, the common shares were valued at 22.2 billion KRW and the preferred shares at 41.5 billion KRW, totaling 63.7 billion KRW. As a result, Seo's stake increased from 0.13% to 2.63%.

Accordingly, Chairman Seo Kyung-bae's common shareholding decreased from 49.64% to 47.14%. Seo Ho-jung had also purchased about 1 billion KRW worth of Amorepacific and its holding company AmoreG shares on the market last year, holding a 0.01% stake.

Seo does not yet hold a position within the group. Her older sister, Seo Min-jung, is currently working as a member of the AP team in the Luxury Brand Division at Amorepacific. Seo Min-jung's stake in AmoreG is 2.66%.