Jung Ki-sun, chairman of HD Hyundai, has become the second largest shareholder after receiving a 3.55% stake from his father, Jung Mong-joon, chairman of the Asan Foundation.
According to industry sources on September 4, HD Hyundai transferred 2.8 million common shares (3.55%) from Jung Mong-joon to Jung Ki-sun. As a result, Jung Mong-joon's stake decreased from 26.60% to 23.05%, but he retains his position as the largest shareholder.
With this transfer, Jung Ki-sun's stake in HD Hyundai increased from 6.12% to 9.67%, surpassing the National Pension Service, which holds a 7.12% stake in the company.
Based on HD Hyundai's closing price of 212,500 won on that day, the value of the transferred shares is estimated at approximately 595 billion won.
Industry analysts view this transfer as a strategic move to establish a foundation for future succession within the group.
Meanwhile, Jung Ki-sun has been leading the company's management since his promotion from vice chairman to chairman in October of last year, marking the first time in 37 years that the company has been under owner management since 1988.
* This article has been translated by AI.
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