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#기업분할 2 posts

Spin-off vs Split-off in Korea: What Changed for Treasury Shares

In a Korean injeok bunhal (spin-off), shareholders receive new-company shares pro rata; in a muljeok bunhal (split-off), the parent takes 100%. Since December 31, 2024, treasury shares can no longer receive new shares in a spin-off.

EconomicsSep 1, 20267 min

Physical vs. Spin-off Division in Korea: Shares and Ex-rights Math

In a muljeok (physical) division the parent keeps 100% of the new subsidiary and shareholders get nothing; in an injeok (spin-off) division shareholders receive new shares by the split ratio. Here is the share-allocation and ex-rights math, plus appraisal rights.

EconomicsJul 25, 20264 min