Yoon Chun-sung, CEO of LG Sangsa, Buys 3,700 Shares of Company Stock... First Purchase Since Becoming CEO

Yoon Chun-sung, CEO of LG Sangsa (Photo by LG Sangsa)

[Asia Economy Reporter Kim Ji-hee] LG Sangsa announced on the 17th that CEO Yoon Chun-sung purchased 3,700 shares of the company's stock on the market for approximately 49 million KRW. With this stock purchase, CEO Yoon now holds a total of 6,855 shares (0.02%) of the company's stock.

This is the first time CEO Yoon has purchased company shares since his appointment as LG Sangsa CEO in March last year. It is also the largest stock purchase he has made to date, coming more than two years after he served as Vice President and Head of the Resources Division in March 2018.

LG Sangsa is prioritizing performance improvement this year and is making an all-out effort. Recently, the company secured new investment funds by selling its entire stake in the LG Beijing Twin Towers for about 341.2 billion KRW. It has selected nickel mining development in Indonesia as a new energy business and is focusing on developing various business platforms and solution projects necessary for the advancement of the 4th industrial revolution based on information and communication technology (ICT).

An LG Sangsa official explained, "It is generally seen that when a CEO personally purchases company shares, it provides investors with confidence in the company and is a way to enhance shareholder value." He added, "Through this stock purchase, CEO Yoon has demonstrated strong confidence not only in responsible management but also in future performance improvement and the creation of management results."