There is no relationship between employment succession and the change of the majority shareholder after selling stocks.However, if the change of the majority shareholder leads also to a change of the management, and the new management is considering a new business direction, then it might also have an impact on the employment of the workers.

– But in that case, it would be equal to a layoff, which would require a justifiable reason
pursuant to Art. 30 of the Labor Standards Act.