The court has accepted the witness request from Chairman Yoon Donghan of Kolmar Group in the stock return lawsuit against Vice Chairman Yoon Sanghyun of Kolmar Holdings, who is also his son. The legal dispute over management control within Kolmar Group is expected to intensify through witness examinations scheduled for March 2026.
On December 11, the Civil Division 29 of the Seoul Central District Court (Presiding Judge Ko Seungil) stated during the hearing of Chairman Yoon’s stock return claim against Vice Chairman Yoon that “the court will accept the witnesses requested by Chairman Yoon’s side, namely Hong Jinsu, auditor of Kolmar BNH, and Kim Byungmook, former president of Kolmar BNH.”
Chairman Yoon’s side argued, “Vice Chairman Yoon’s side had long planned to strip Yoon Yewon, CEO of Kolmar BNH, of management control,” and stated that they would prove this through witness examination. Although CEO Yoon stepped down from the management frontline following a board decision in October 2025, Chairman Yoon’s side claims that Vice Chairman Yoon had already attempted to push out his younger sister, CEO Yoon, in violation of a 2018 agreement. The 2018 agreement stipulated that Vice Chairman Yoon would manage Kolmar Holdings and the Kolmar Group, while CEO Yoon would manage Kolmar BNH.
Vice Chairman Yoon’s side countered, “The minutes and audio recordings of Kolmar BNH’s board meetings have already been submitted,” and pointed out, “It is unclear what facts Chairman Yoon’s side intends to prove through witness examination.” The court accepted Chairman Yoon’s request. The court also stated, “If Vice Chairman Yoon’s side requests witnesses, they will be accepted unless there are special circumstances.”
There was also discussion on how to refer to the 2018 agreement. While Chairman Yoon’s side called it a “management agreement,” the court decided to use the neutral term “agreement.” The next hearing is scheduled for March 12, 2026.
In April 2025, Vice Chairman Yoon triggered the family dispute by demanding the appointment of a director to Kolmar BNH, led by CEO Yoon, citing poor performance. Chairman Yoon supported his daughter, CEO Yoon, and tried to block Vice Chairman Yoon by filing for an injunction, but the court sided with Vice Chairman Yoon. Although Chairman Yoon later withdrew the injunction request, he continues to pursue the stock return lawsuit, seeking the return of 2.3 million shares of Kolmar Holdings (now 4.6 million shares after a bonus issue) that he had gifted to Vice Chairman Yoon in 2019.
Lee Sangwoo, The Law Times Reporter
※This article is based on content supplied by Law Times.
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