BK Holdings Discloses Largest Shareholder Change to Trust & Equity Partnership

BK Holdings disclosed a change of its largest shareholder from Korea Culture Promotion and two others to Trust & Equity Investment Partnership, according to digitaltoday.co.kr. The change took effect on October 8, 2026.

Trust & Equity Investment Partnership acquired 1,400,000 new shares on September 11, 2026 through a third-party allotment rights issue, and an additional 1,439,200 new shares on October 8, 2026. The partnership also bought 24,680 shares on the market over three days from September 29 to October 1, 2026.

The acquisition reflects a 5:1 share consolidation effective October 7, 2026. The new shares from the rights issues will be protected for one year from their respective listing dates.

The partnership's stake increased from 1,424,680 shares (18.88%) to 2,863,880 shares (37.95%), a 19.07 percentage point rise. The acquisition was funded entirely with own funds of 9,069,732,000 won, with no borrowing. Executives were appointed at an extraordinary shareholders' meeting on September 18, 2026.

Partnership Background

Trust & Equity Investment Partnership is a partnership formed under the Civil Act, with three contributors and total partnership assets of 9.16 billion won. The representative partner is Jang Seok-hwan, holding a 0.01% stake. The largest contributor is Edge World with 41.48%, followed by HD&M with 24.13% and NH International with 14.19%. Jang Seok-hwan served as a non-executive director at KOSDAQ-listed Woorinet from January 31, 2024, to March 31, 2026.