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[Alpha Biz=(Chicago) Reporter Kim Jisun] Cho Joo-wan, CEO of LG Electronics, is buying back shares for the second time this year. It is interpreted as a strong will to practice responsible management and enhance corporate value and shareholder value.
According to the Financial Supervisory Service's electronic disclosure system on the 15th, President Cho bought 1,000 common shares in the market on the 13th as of the payment date. The unit price per share is 123,500 won, and the total purchase amount is 123.5 million won.
Cho also bought 2,000 shares in the market at 113,600 won per share on March 29. At that time, the purchase was 227.2 million won.
President Cho acquired 372 shares of employee stock ownership when he was the head of the Australian subsidiary in 2011 and purchased an additional 550 shares and 590 shares of treasury stock in 2017 and 2018, respectively, when he was a representative of North America. It also bought 861 shares in 2019.
As a result, CEO Cho's treasury shares increased to a total of 5,373 shares. The CEO's purchase of treasury stocks is interpreted as a willingness to support corporate and shareholder value and responsible management. In particular, President Cho's purchase of the stock is meaningful as it took place at a time when the stock price rose more than 40% compared to the beginning of the year.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
