[Market Focus] Kolmar Group "Sibling Dispute"... Kolmar Holdings Surges Over 12%

As the conflict between the second-generation siblings of the Kolmar Group owner family escalates into a legal battle, shares of Kolmar Holdings are also showing strong performance.

As of 11:13 a.m. on June 27, Kolmar Holdings was trading at 16,780 won, up 1,870 won (12.54%) from the previous trading day.

On this day, Kolmar BNH announced that the hearing date for the injunction application, including the maintenance of unlawful acts, filed by CEO Yoon Yeowon against her older brother Yoon Sanghyun, Vice Chairman of Kolmar Holdings, at the Daejeon District Court, has been scheduled for July 2.

Previously, Kolmar Holdings filed for an injunction to convene an extraordinary general meeting of shareholders at Kolmar BNH to appoint an inside director. In response, CEO Yoon Yeowon applied for an injunction to maintain the status quo regarding unlawful acts. CEO Yoon argued that Kolmar Holdings' request to convene an extraordinary general meeting constitutes a direct violation of the three-party management agreement and is a serious unlawful act that could cause irreparable harm to the entire group, including Kolmar Holdings.

Kolmar BNH claims its independent management based on the three-party management agreement signed in September 2018 by Yoon Donghan, Chairman of Kolmar Holdings and the founder, Vice Chairman Yoon, and CEO Yoon. Kolmar Holdings is the largest shareholder of Kolmar BNH, holding a 44.63% stake.