[Edaily Reporter KYUNG GYEYOUNG ] Seo Ho-jeong (pictured), the second daughter of AMOREPACIFIC CORPORATION Chairman Kyung Bae Suh, has sold a portion of her AMOREPACIFIC CORPORATION shares worth 7.8 billion won. This was done to pay the gift tax on the shares she received as a gift from Chairman Suh last March.

AMOREPACIFIC CORPORATION(090430)AMOREPACIFIC CORPORATION announced on the 10th that Seo Ho-jeong sold 60,000 shares of AMOREPACIFIC CORPORATION common stock on the open market over three trading days starting July 31. The total value of the sale was 7.835 billion won.

AMOREPACIFIC CORPORATION explained that the sale was intended to raise funds to pay the gift tax. Previously, in March, Seo Ho-jeong received a gift of 190,000 shares of AMOREPACIFIC CORPORATION common stock from Chairman Seo. With this sale, Ms. Seo’s stake will decrease from 0.28% to 0.19%.

However, the stake in AmoreG(002790) —including convertible preferred shares—that she received as a gift from Chairman Seo in 2021 and 2023 stands at 2.28%, which is similar to that of her older sister, Seo Min-jeong (2.84%).

Born in 1995, Seo Ho-jeong graduated from Cornell University in the United States with a degree in Hotel Management and joined the Product Development (PD) team at Osulloc, a subsidiary of AMOREPACIFIC Holdings, as a new hire in July of last year. She is currently in charge of product development and marketing at Osulloc.