HJ Heavy Industries Executives Purchase Company Shares Worth 327 Million KRW

Executives of HJ Heavy Industries purchased approximately 327 million KRW worth of company shares on the open market.

[Photo by HJ Junggongup]

According to the Financial Supervisory Service's electronic disclosure system on the 12th, HJ Heavy Industries executives have consecutively bought a total of 83,248 shares of the company last month and this month.

In the past month, Hong Mun-gi, CEO of the Construction Division, purchased 5,700 shares, and Yoo Sang-chul, CEO of the Shipbuilding Division, bought 5,600 shares on the open market. The executives purchasing company shares are not limited to the CEOs. Several executives have continuously bought thousands of shares each. From last month until the 8th of this month, a total of 29 executives, including the CEOs, have disclosed stock purchases.

In the financial investment industry, such stock purchases by company executives are interpreted as a positive signal. Since the management team knows the company's operational status better than anyone else, their purchase of company shares is evaluated as a sign of confidence and determination for future business growth.

The industry expects that the steady increase in order volumes and improved performance in both the Construction and Shipbuilding divisions will positively impact the stock price going forward.

HJ Heavy Industries currently holds an order backlog worth approximately 7.4 trillion KRW, which corresponds to about four years' worth of construction volume. The Construction Division has secured cumulative construction orders worth about 5 trillion KRW through public projects and steady housing business orders.

An HJ Heavy Industries representative stated, "The executives' purchase of company shares is based on individual decision-making and demonstrates their commitment to responsible management," adding, "It is an expression of confidence in raising the company's value and achieving further growth."