[Featured Stock] Management Dispute Rekindled... Hanmi Science Up 16%

The management rights dispute within the founding family of Hanmi Pharm Group has reignited, causing the holding company Hanmi Science to rise more than 16%.

As of 2:24 PM on the 4th, Hanmi Science is trading at 38,000 KRW, up 16.03% (5,250 KRW) from the previous trading day.

The stock price increase is interpreted as a result of the renewed management rights dispute at Hanmi Pharm.

Song Young-sook, Chairwoman of Hanmi Pharm Group, and her eldest daughter, Vice Chairwoman Lim Ju-hyun, announced yesterday that they signed a stock sale agreement to sell 6.5% of Hanmi Science shares to Shin Dong-guk, Chairman of Hanyang Precision and the largest individual shareholder of Hanmi Science, along with a joint voting rights agreement.

Sejong Law Firm, which advised on the transaction, explained in a press release that according to this agreement, the three individuals will secure nearly a majority of Hanmi Science's voting rights by combining approximately 35% of Hanmi Science shares directly held by them with shares held by immediate family members and friendly parties.