YOON&YANG

On July 1, 2024, HYOSUNG Corporation, a holding company of Hyosung Group, one of the Korea’s leading chemical, textile, construction conglomerates, established new company named HS HYOSUNG Corporation (“HS HYOSUNG”) through a spin-off of its two divisions. 

As a result of this, newly established company, HS HYOSUNG operates two business divisions: (i) a division that manages the six subsidiaries through the shares ownership of HYOSUNG Advanced Materials Co., Ltd., HYOSUNG Information System Co., Ltd., HYOSUNG Toyota Co., Ltd., Gwangju Ilbo Co., HYOSUNG Holdings USA, Inc., and HYOSUNG Global Logistics Vina Co., Ltd., and (ii) a logistics business division whose main business purpose is international logistics brokerage business. 

HS HYOSUNG is to own and manage the shares of aforementioned six subsidiaries, while the existing holding company, HYOSUNG Corporation manages the rest of the Hyosung Group’s businesses.

Yoon & Yang’ successfully advised on all aspects of the transaction, including deal structure, documentation of the spin-off procedure, listing of stocks of new company and a closing of all related-matters.