[Edaily Reporter Park Jung-Soo ] Kim Jeong-ryul, Chairman of Saikan Holdings—a major friendly investor in FSN ( FSN(214270))—has acquired additional shares in FSN through on-market purchases.

FSN announced on the 24th that Chairman Kim recently expanded his personal stake to 5.59% (2,531,453 shares) through on-market purchases. Consequently, Cykan Holdings’ total stake in FSN—including its existing 6.35% stake (2,875,087 shares)—has increased to 11.95% (5,406,540 shares).
The company explained that this purchase was made purely for investment purposes, based on the assessment that FSN’s current stock price is undervalued relative to the company’s intrinsic value and growth potential.
FSN is restructuring its business portfolio to focus on brands, platforms, and artificial intelligence (AI) content, shifting away from its previous advertising agency-centric model. The company is expanding its business scope by recently launching the new beauty brand “Gipun” and forming a partnership with the undercare brand “Lulupitch.”
The company assessed that, despite the rising value of its core subsidiaries and the restructuring of its business, its current market capitalization remains below the value of those subsidiaries.
Cykan Holdings, a company with assets of approximately 3 trillion won, has maintained a long-standing friendly relationship with FSN. It has delegated the voting rights of its held shares to J2B—FSN’s largest shareholder and a consortium of management—and continues to maintain a cooperative relationship as a strategic investor.
FSN expects that expanding its friendly shareholder base will provide momentum for global business expansion and the launch of new ventures. The company explained that this will strengthen its ability to execute mid- to long-term growth strategies based on a stable shareholder base.
An FSN official stated, “Chairman Kim Jeong-ryul’s on-market share purchases demonstrate his confidence in FSN’s corporate value and future growth potential,” adding, “Based on cooperation with our friendly shareholders, we will accelerate the expansion of new businesses and global operations and do our utmost to enhance corporate value.”