Largest Shareholder Choi Jae-hoon Discloses Addition of Special Relationship, Stake Unchanged at 58.86%

Nam Hwa Construction's largest shareholder Choi Jae-hoon filed an amendment to the large shareholding report as of March 31 2026, adding outside director Jo Young-hwan as a special relationship. The total shareholding increased by 266 shares to 6,910,226 shares with the ratio unchanged at 58.86 percent.
Choi personally has a pledge agreement with Daishin Securities for 1,753,896 shares representing 14.94 percent with a loan amount of approximately 3.55 billion KRW at an interest rate of 4.80 percent and a collateral maintenance ratio of 197 percent. Affiliate NQ Industry maintains a stock lending agreement with Choi for 805,000 shares representing 6.86 percent.
This filing is a routine correction due to a minor share change and new special relationship addition. No significant changes to the controlling shareholder structure have occurred and the existing pledge and lending contract terms remain unchanged. There are no new capital raising or share cancellation activities.
[AI Summary]This disclosure by Nam Hwa Construction's top shareholder Choi Jae-hoon mainly reflects the addition of a new outside director as a special relationship with negligible share change thus limited direct impact on stock price. The existing pledge and lending contracts remain stable and there is no concern over management control stability.