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GS’s 4th generation owners increase stake

By Korea Herald

Published : July 14, 2016 - 10:43

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[THE INVESTOR] The great-grandchildren of GS Group(chairman Huh Chang-soo) are steadily increasing their stake in the family business.

On July 13, GS announced that GS Caltex executive vice president Huh Joon-hong has purchased 52,000 shares on July 7 and 8. He had the largest stake in the holding company among the fourth generation with 1.64 percent (1,556,327 shares) as of February 2016.

GS Caltex executive vice president Huh Joon-hong GS Caltex executive vice president Huh Joon-hong

He is the great-grandson of GS Group founder Huh Man-jung and the only son of Samyang Tongsang chairman Huh Nam-gak. Being the eldest male in the fourth generation, he is the most likely to take over control of the conglomerate as it has been the founding family’s tradition.

His sister Jeong-yoon also acquired 15,000 shares on July 12 while their cousin GS Energy director Huh Seo-hong took over a total of 22,351 shares on July 12 and 13. Seo-hong is the eldest son of Samyang International chairman Huh Gwang-soo, and is another strong candidate for heading the group.

As the fourth generation of GS’s founding family acquired more shares, the stake of the largest shareholder and others has increased to 45.71 percent from 45.62 percent.

By Hwang You-mee (glamazon@heraldcorp.com)