Yoo Jeong-hyun, Chairman of NXC, borrows 320 billion won from Wise Kids for inheritance tax

Yoo Jeong-hyun, Chairman of NXC, borrows 320 billion won from Wise Kids for inheritance tax

August 30, 2024 Catherine Williams - Chief Editor Business

Transaction on the 31st of this month, interest rate 4.6% Chairman Yoo’s family to pay approximately 4.7 trillion won in kind Total inheritance tax expected to reach at least 5.34 trillion won

  • ▲ ⓒNexon

    NXC Chairman Yoo Jeong-hyun, spouse of the late founder Kim Jeong-ju, revealed on the 30th that she borrowed 320 billion won from Wise Kids to pay inheritance tax.

    Wise Kids is a company in which Chairman Yoo’s two children are major shareholders, and the purpose of the transaction was stated as ‘fund management.’ The transaction date is the 31st of this month, and the interest rate is 4.6%.

    When founder Kim passed away in February 2022, Chairman Yoo’s family paid approximately 4.7 trillion won to the government in the form of payment in kind. If Chairman Yoo adds the amount secured by selling shares and lending money this time, the total inheritance tax is expected to reach at least 5.34 trillion won.

    Earlier, Chairman Yoo’s family sold 666.2 billion won worth of shares on the 19th to pay inheritance tax. NXC announced that it acquired 61,746 shares (320.338 billion won) of Chairman Yoo’s shares and 31,771 shares (164.828 billion won) of its own shares from each of his children, Kim Jeong-min and Jeong Yoon.