SNT chairman donates W46b in personal shares to scholarship foundation

SNT Group Chairman Choi Pyung-kyu will donate personal SNT Holdings shares worth about 46 billion won ($33.9 million) to the Unhai Scholarship Foundation he established.

SNT Holdings disclosed Wednesday that Choi will contribute an additional 990,891 shares — representing a 6.65 percent stake — to the foundation.

The shares were valued at approximately 46 billion won based on Tuesday's closing price. The final donation amount will be determined using the closing price on Oct. 30.

The Unhai Scholarship Foundation was established in 2013 with 30 billion won in initial assets, including 10 billion won from Choi's personal funds.

The additional contribution will expand the foundation's core assets to approximately 176 billion won, bringing Choi's cumulative personal donations to around 56 billion won.

The foundation will also hold a total of 1,489,000 SNT Holdings shares, or a 9.99 percent stake, securing its position as the company's second-largest shareholder.

Factoring in share price appreciation, the foundation's total assets under management stand at approximately 250 billion won.

This year, the foundation awarded 620 university students 8 million won each, and has distributed a total of 5.33 billion won in scholarships since its founding.

Going forward, the foundation plans to expand its public-interest programs, including cultivating science and engineering talent for future generations, supporting students from educationally underserved backgrounds, and funding academic research in emerging technology fields.

SNT Group's core businesses span defense, automotive parts, energy plants and robotics.