SELLING THE ZEN MAN SHARES OR BRINGING 40 TRILLION WON TO KK HERCULES

On 27 July, Korean Meritz securities projected that, as a result of the sale of the Zhang shares in June, together with other investment-related earnings, SK Hercules would add about 41.6 trillion won (about 190 billion yuan yuan) in the second quarter of 2026, with a pre-tax profit of 10 trillion won (about 46 billion yuan yuan yuan). In 2018, when Ben Capital took the lead in acquiring Toshiba storage (the late Zen Man), SK Hercules bought Zhang shares and reversible debt through two SPCs (special purpose companies, often used to isolate debt and legal risk). With Ben's sale of the last of his shares this year, Hercules cleared all of the company's shares, earning close to 40 trillion won, and retaining only a transferable debt of up to 13.609 trillion won (as of March 26). In the future, if the transfer is completed, it is expected to correspond to approximately 14 per cent of the share of the Qin. It is worth noting that SK Group Chairman Choi Tae-jin is pursuing divorce proceedings and that SK Hercules is the group's largest “cash cow” and therefore has a high probability of increasing the score。