Kumho Petrochemical to Cancel Half of Its Treasury Shares Worth 380 Billion KRW

Kumho Petrochemical announced on the 6th that it will burn half of its treasury shares over the next three years.

Kumho Petrochemical stated that it plans to cancel 50% of its existing treasury shares in installments over three years to enhance shareholder value.

A total of 2,624,417 shares (9.2%) are subject to cancellation. Based on the closing price on the 6th, this amounts to approximately 379 billion KRW.