La Défense pushes to improve governance with the family of Osstem founder

Private equity fund manager La Dégance Partners is set to begin work on stabilizing the governance structure together with the family of Oskootech founder and late Chairman Kim Jeonggeun. La Dégance previously joined forces with the owner side in the management control dispute over Hanmi Pharmaceutical Group, and this is also interpreted as playing a key role in the process of adjusting management control and the shareholder structure this time as well. According to the investment banking industry on the 9th, La Dégance plans to pursue measures to improve the governance structure surrounding Oskootech and its U.S. subsidiary GenoScience together with the side of Chairman Kim's heir, Kim Seongyeon. In the market, it is seen that La Dégance has taken on the negotiation window and is working to coordinate interests amid the situation where inheritance tax burdens and the issue of organizing GenoScience shares are intertwined. Oskootech has faced growing management uncertainty since Chairman Kim's death in February. The value of the shares subject to inheritance and the burden of inheritance tax are significant, and conflicts with minority shareholders have continued over the handling of GenoScience shares and the issue of making it a wholly owned subsidiary. La Dégance is focusing on resolving these issues and stabilizing the governance structure. In the past dispute over Hanmi Pharmaceutical Group, La Dégance also secured a stake in Hanmi Science through a special purpose company together with Chairman Song Youngsook's side, and later CEO Kim Namgyu joined the board. This Oskootech case is also read as a similar form of support for management control and governance structure.