"Sale Rumors" about Jeximix... CEO Lee Su-yeon Refutes "My Shares Are Not Just 10,000 Won"

CEO Lee Directly Refutes Sale Promotion on SNS

Brand X Corporation, which operates athleisure brand Jeximix, has been engulfed in rumors of a sale, but Lee Su-yeon, the second largest shareholder and CEO of Brand X Corporation, has strongly denied the sale rumors.

On the 26th, Lee Su-yeon, CEO of Brand X Corporation, wrote on her social media (SNS), "The value of my shares is not merely 10,000 won," adding, "My goal is to create a much higher corporate value for the company." This was a direct rebuttal to rumors that Lee, the second largest shareholder and current leader of the company, was considering selling her shares.

Later that day, Brand X Corporation also issued an official statement, saying, "CEO Lee Su-yeon has never attempted or considered selling her shares," and emphasized that such rumors "undermine the motivation of investors and related parties," drawing a clear line against the share sale rumors.

Reports emerged that Kang Min-jun, the largest shareholder and former CEO holding 30% of Brand X Corporation’s shares, distributed a teaser letter to find buyers for his stake. It was also reported that Lee Su-yeon, who holds 14.64% of the shares, had shifted to a position of selling her shares together. It is believed that Kang decided to sell his shares only when their value is recognized, as his position could become uncertain if he sells prematurely.

In September, Brand X Corporation became embroiled in management disputes and share sale issues after Lee Su-yeon became the sole CEO following the resignation of Kang Min-jun. The sale rumors intensified after it was revealed that the former couple, Kang and Lee, had divorced a year ago.

Currently, the major shareholders of Brand X Corporation are former CEO Kang Min-jun (30%), CEO Lee Su-yeon (16.64%), the employee stock ownership association (4.68%), and Korea Investment Industry 4.0 Venture Fund (4.12%), in that order.