Global Tax Free Executives Purchase 137,000 Shares for Responsible Management

[Asia Economy Reporter Hyungsoo Park] The management of Global Tax Free (GTF), the No.1 tax refund company in Korea, has purchased treasury shares. They expressed confidence in boosting the stock price and showed their commitment to enhancing shareholder value and responsible management.

GTF announced on the 30th that major shareholder and inside director Moon Yang-geun and CEO Kang Jin-won purchased 87,000 and 50,000 treasury shares respectively on the market. The total amount of shares purchased by the two executives is approximately 470 million KRW.

A company official explained, "The management's purchase of treasury shares reflects strong confidence in the company's long-term growth and dispels market concerns caused by the recent delay in submitting the audit report."

GTF CEO Kang Jin-won said, "Due to the prolonged COVID-19 pandemic, foreign tourists decreased, resulting in poor performance over the past two years. With the reopening, suppressed overseas travel demand worldwide will recover."

He added, "As the undisputed No.1 tax refund company in Korea, we purchased treasury shares to provide confidence to our shareholders along with certainty of a rapid performance recovery."

CEO Kang also stated, "Through shareholder-friendly responsible management, we will do our best to continuously increase corporate value and enhance shareholder value."