Interview with Ahn Il-woon, Partner Attorney, Law firm Veat, regarding a transaction where NXC purchased company shares from a major shareholder.
Article posted in 2024-08-29 14:38:35 | VEAT
Law firm Veat partner lawyer Ahn Il-woon conducted an interview regarding the unusual transaction in which NXC, the parent company of Nexon, repurchased its own shares from a major shareholder.
Mr. Yoo Jung-hyun divided the shares of founder Kim Jeong-ju, with 5% for himself, 16% for each of his children, and paid inheritance tax on the remaining 29% stake. As a result, NXC's ownership structure now consists of 34% for Mr. Yoo Jung-hyun and 33% for two children.
The inheritance tax amount is so large that the process has not yet been completed.
The three heirs have decided to supplement the inheritance tax shortfall through share sales.
Surprisingly, the purchaser is NXC.
In this interview, partner lawyer Ahn Il-woon explained corporate legal issues from the perspective of a legal expert regarding whether the company met the requirements to acquire its own shares. Please refer to the Outstanding article for the detailed interview content.
Outstanding is an IT venture news media that explains technical and business issues that readers may find difficult, such as startups, platforms, content, blockchain, and artificial intelligence, in an easy and fun way.
Partner lawyer Ahn Il-woon, a former developer at a large corporation, provides legal advice to various corporations and startups based on his deep understanding of corporate management and mechanisms. He has particular expertise in legal issues related to IT and has been certified as an IT specialist lawyer by the Korea Bar Association. He is also active as an ICT startup legal mentor of the Ministry of Science, ICT, and Future Planning and as a member of the Startup Support Legal Advisory Group of the Ministry of SMEs and Startups.
Thank you.
Law firm Veat.