# Kim Dong-sun Hanwha M&S tender offer

> Live situation record from CLSTR: https://clstr.news/situations/kim-dong-sun-hanwha-ms-tender-offer
> Updated: 2026-10-20T22:40:00.000Z. Sources: 10. Developments: 2.

Kim Dong-sun, President of Future Strategy at Hanwha M&S, initiated a tender offer to acquire a 19% stake in the company. The proposal involved investing approximately 128.48 billion KRW to purchase up to 16.06 million common shares at 8,000 KRW per share. If successful, the move was intended to increase Kim’s stake from 5.81% to 24.81%, making him the largest single shareholder and surpassing Hanwha Energy.

Following the announcement that his brothers, Vice Chairmen Kim Dong-kwan and Kim Dong-won, also intended to participate in the tender offer, Kim expanded the scale of the acquisition. The target volume was raised from 16.06 million shares to 26.203 million shares, representing 31% of the total issued common stock. 

The expanded offer, estimated at approximately 209.6 billion KRW, aims to ensure minority shareholders are not deprived of selling opportunities due to the increased participation of related parties. If completed, Kim’s stake is expected to rise to 36.81%.

## Claims

- Kim Dong-sun increased the Hanwha M&S tender offer volume from 16.06 million shares to 26.203 million shares. (corroborated by 2 sources)
- The tender offer target now represents 31% of the total issued common stock. (corroborated by 2 sources)
- The purchase price is set at 8,000 KRW per share. (corroborated by 2 sources)
- Kim Dong-kwan intends to subscribe to 6.762 million shares. (corroborated by 2 sources)
- Kim Dong-won intends to subscribe to 3.381 million shares. (corroborated by 2 sources)
- The tender offer period ends on November 2. (corroborated by 2 sources)
- The total investment amount for the tender offer is approximately 209.6 billion KRW. (single source)
- Kim Dong-sun's stake is expected to increase to 36.81% if the offer is completed. (single source)

## Timeline

### 2026-10-20: Kim Dong-sun expands Hanwha M&S tender offer to 31%

Hanwha M&S President Kim Dong-sun increased his tender offer to 31% of total shares to accommodate participation from his brothers and protect minority shareholder opportunities.

5 sources. https://clstr.news/cluster/kim-dong-sun-expands-hanwha-ms-tender-offer-to-31

### 2026-10-12: Kim Dong-sun to launch 128.5 billion KRW tender offer for Hanwha M&S

Hanwha M&S Future Strategy President Kim Dong-sun is launching a 128.5 billion KRW tender offer for a 19% stake to become the company's largest shareholder and strengthen responsible management.

8 sources. https://clstr.news/cluster/kim-dong-sun-to-launch-1285-billion-krw-tender-offer-for-hanwha-ms

---
Cite as: Kim Dong-sun Hanwha M&S tender offer. CLSTR, https://clstr.news/situations/kim-dong-sun-hanwha-ms-tender-offer