Largest Shareholder Lee Kyung-ho Extends Pledge on 98.4% of Holdings, Sustaining Control Risk
Largest shareholder Lee Kyung-ho has pledged 1,642,169 shares (13.55% of total) out of his 1,669,440 shares (13.77%) for debts totaling 35.63 billion KRW. Full enforcement would reduce his stake to 0.22%.
This amendment extends one existing pledge contract (Mujin Electronics, 5 billion KRW) to October 15, 2026, with no new borrowing.
Six of the eight pledge contracts mature between June and August 2026, posing a high risk of forced share sales or change in control if debts are not repaid or extended.
Debtors include GCT Semiconductor (affiliate) and JCT Research, indicating broader group liquidity concerns.
[AI Summary]With 98% of the controlling stake pledged, the risk of ownership change upon maturity remains high, a clear negative for share price.
KOSDAQ Filing Information
Filing: [Correction of Description] Execution of Stock Pledge Agreement Involving Change of Largest Shareholder