Major Shareholder Moon Yang-kwon Corrects Stake Report: Ownership Rises to 32.22% After Stock Merger and Open Market Purchases

Moon Yang-kwon and his special relations (affiliate Jools, MI Company) hold a total of 5,996,352 shares (32.22%) in Barunson Entertainment & Arts, down from 21,669,851 shares but up in percentage from 28.84% due to a 4:1 stock merger on April 16, 2026.
The stock merger reduced total outstanding shares from 74,439,675 to 18,609,918, proportionally reducing the number of shares held but increasing the ownership percentage.
MI Company, 100% owned by Moon, acquired 934,602 shares through open market and off-market purchases between May 22-29, 2026, at an average price of KRW 1,150, funded by a KRW 1.1 billion loan from Moon himself.
Special relation Jools sold all its holdings (330,712 shares at KRW 1,140) on April 16, 2026, and is no longer a special relation.
This filing is a voluntary correction of previous errors (overstated share count) and reflects routine changes in holdings, not for influencing management but for simple acquisition and change reasons.
[AI Summary]This disclosure is a routine update and correction of major shareholder holdings, with no direct impact on shareholder value such as new capital raising or share buybacks. The stock merger reducing float and MI Company's open market purchases could be seen as mildly positive, but the use of borrowed funds for acquisition poses potential financial risk.