THE WHAT? Amorepacific Chairman Seo Kyung-bae has gifted shares worth KRW30 billion to his second daughter, signalling a shift in the group’s succession dynamics.

THE DETAILS The transfer of 190,000 common shares (0.27% stake) to Hojung Suh reduces Seo’s holding to 8.74% and follows earlier share gifts in both Amorepacific and its holding company. While officially intended to support tax payments on prior share transfers, the move is widely seen as strengthening Hojung’s long-term control, particularly as she retains preferred shares convertible into voting stock from 2029. Meanwhile, eldest daughter Minjung Suh—previously viewed as the primary successor—has stepped back from management and divested key holdings in group brands. Hojung is currently building experience within O’Sulloc, a growing business within the group, further boosting her profile.

THE WHY? The development reflects a shift toward a more competitive, merit-based succession structure, with ownership positioning and operational involvement shaping future leadership of the group.

Source: The Asia Business Daily