[Special Stock] Shinsegae Group Shares Rise on Expectations for Corporate Value Enhancement Plan

Shares of Shinsegae Group, which announced plans to enhance corporate value in the fourth quarter of this year, rose together on the 13th.

As of 9:07 a.m. that day, Shinsegae was trading at 158,400 KRW, up 2,900 KRW (1.86%) from the previous session on the KOSPI market.

At the same time, Shinsegae International was also up 150 KRW (1.13%) at 13,430 KRW. However, Gwangju Shinsegae remained almost unchanged at 29,450 KRW.

Shinsegae announced after the market closed on the 12th that it plans to establish a corporate value enhancement plan together with the board of directors and announce it in the fourth quarter of this year. On the same day, Shinsegae International, Gwangju Shinsegae, and others also disclosed the same information.

This is the first time in three years that Shinsegae affiliates have announced a corporate value enhancement plan. Previously, when announcing the fourth quarter results in 2021, Shinsegae stated that it set the duration of its shareholder return policy to three years to increase predictability for shareholders.