Sibling Conflict Between Yoon Sang-Hyun (Brother) And Yoon Yeo-Won (Sister) At Kolmar Group

May 14, 2025

∙ Paid

There is a brewing sibling conflict at the Kolmar Group. Kolmar Holdings and Kolmar BNH have clashed regarding the reorganization of Kolmar BNH’s board of directors.
Yoon Sang-Hyun (brother) wants to shake things up. Yoon Sang-Hyun wants to appoint new members at Kolmar BNH's BOD but his sister Yoon Yeo-Won is opposing this.
We see a higher upside for Kolmar Holdings. Our base case valuation of Kolmar Holdings is NAV per share of 14,675 won (57.5% upside from current levels).

Source: Kolmar BNH

Keep reading with a 7-day free trial

Subscribe to Douglas Research Insights to keep reading this post and get 7 days of free access to the full post archives.