Daiso becomes a fully Korean company

Asung HMP, the largest shareholder of dollar-shop chain Asung Daiso, has decided to acquire all the shares of its Japanese shareholder, Daiso Sangyo. With this, the dollar-shop company can be rather free from boycotts whenever anti-Japanese sentiment emerges in the country.

On December 12, Asung Daiso said, "We have decided to acquire all of Daiso Sangyo’s shares in order to become an indigenous Korean store.”

The shares of Asung Daiso are owned by Asung HMP (50.02 percent), whose largest shareholder is its chairman Park Jeong-bu, and by Japanese Daiso Sangyo (34.21 percent). The acquisition of Daiso Sangyo’s shares of 34.21 percent will increase the percentage of Asung HMP’s shareholding to 84.23 percent.

The acquisition price of the shares is reportedly to be 500 billion won, but Asung Daiso did not confirm the exact price.

Chairman Park reportedly decided to acquire the shares of Japan's Daiso Sankyo after it has recently demanded its participation in management and an increase of its dividends while paying attention to the growth of Asung Daiso's performance.

Apparently, the Japanese company also decided to sell its shares as their value of 3.8 billion won in 2001 skyrocketed to 500 billion won.

※This article has undergone review by a professional translator after being translated by an AI translation tool.