Taekwang Industrial Co., Ltd. (003240) rejected allegations in a shareholder letter from Truston Asset Management, Dailian reported Friday. The company issued its response on September 4 and said it may take legal action over what it called unsupported claims.
Taekwang said Truston requested a tender offer for treasury shares at more than three times the market price. Truston first disclosed a 5% stake in June 2021 and later reduced its position.
The company's market capitalisation was ₩1 trillion at Friday's close. Taekwang said Truston held 1.3% of the company at the end of June 2026.
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| Symbol | Last Price |
|---|---|
| 003240Taekwang Industrial Co., Ltd. | ₩901,000 -4.0% |