Shinsegae Decides to Acquire 400,000 Treasury Shares to "Enhance Shareholder Value"

Shinsegae Department Store Main Branch [Photo by Shinsegae Department Store].

Shinsegae announced on the 3rd that it has decided to acquire 400,000 treasury shares. The purpose is to enhance shareholder value through stock price stabilization.

The 400,000 shares are worth approximately 83 billion KRW based on the previous day's closing price (207,500 KRW). The expected acquisition period is three months, from June 6 to September 5. The shares will be acquired through on-market purchases.

Treasury stock repurchase refers to a company buying back its issued shares, which reduces the number of shares in circulation and is commonly used as a means to boost the stock price.