Vice Chairman Jo Hyun-sang Becomes Largest Shareholder of HS Hyosung...Stock Swap with Chairman Jo Hyun-joon

HS Hyosung Stake Increase from 22.05% to 31.96%

Cho Hyun-sang, Vice Chairman of HS Hyosung, acquired common shares of HS Hyosung held by Cho Hyun-joon, Chairman of Hyosung, through a block deal (large-scale off-hours trading), becoming the largest shareholder.

Joh Hyunsang, Vice Chairman of HS Hyosung.

According to the Financial Supervisory Service's electronic disclosure system on the 20th, HS Hyosung announced on the 19th that the largest shareholder had changed after Vice Chairman Cho exchanged 369,176 common shares of HS Hyosung held by Chairman Cho for 406,459 common shares of Hyosung Co., Ltd. owned by Vice Chairman Cho.

Accordingly, Vice Chairman Cho increased his number of HS Hyosung shares from 821,706 shares (22.05% stake) to 1,190,882 shares (31.96% stake), becoming the largest shareholder. Chairman Cho's stake in HS Hyosung decreased from 33.03% (1,230,587 shares) to 23.12% (861,411 shares).

Meanwhile, HS Hyosung also announced that as of July 1, it has met all the requirements for establishing a holding company under the Fair Trade Act and has transitioned to a holding company.