In today’s briefing:
- Nexon Founder Family Hands Over 4.7 Trillion Won Worth of NXC to Korean Government
Nexon Founder Family Hands Over 4.7 Trillion Won Worth of NXC to Korean Government
- The late Nexon founder Kim Jung-Ju’s family recently paid nearly 4.7 trillion won worth of inheritance taxes to the Korean government by handing over 29.3% stake (paid-in-kind) in NXC Corp.
- We view this handing over the 29.3% stake to the Korean government to be positive overall on Nexon in the near term.
- However, we do not expect this could bring about change in controlling ownership of the Nexon Group in the near term to result in re-rating of the Nexon Group shares.
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