Hansol Chemical Chairman Cho Donghyuk Sells Stake, National Pension Service Becomes Largest Shareholder

2.7% Stake Sold to GS Group for 55 Billion Won
National Pension Service Becomes Largest Shareholder with 13.3%

Hansol Chemical announced on the 25th that Chairman Cho Donghyuk sold his 2.74% stake (310,000 shares) to GS Group. The transaction amounted to approximately 55 billion won.

As a result of this sale, the largest shareholder of Hansol Chemical has changed to the National Pension Service, which now holds a 13.34% stake. Chairman Cho's stake has decreased to 8.91% (1,010,000 shares).

It has been reported that Chairman Cho sold his shares to repay personal debts. Previously, he had taken out loans of about 60 billion won from NongHyup Bank and Korea Securities Finance, using his Hansol Chemical shares as collateral.

To minimize market disruption, Chairman Cho personally sought out a strategic investor with a long-term holding orientation, and through this process, GS was confirmed as the buyer.

A Hansol Chemical representative explained, "GS is a leading domestic oil refining and chemical company and has consistently shown strong interest in the specialty chemicals business. This background led to the current acquisition."