Samsung Semiconductor Executives Join 'Share Buyback' Trend... Participating in Responsible Management

President Park Yong-in Purchases Goods Worth 187.5 Million Won

Samsung Electronics' stock price has remained sluggish, recently hitting the '50,000 Electronics' mark for the first time in 1 year and 7 months, while senior executives in the Device Solutions (DS) division, responsible for the semiconductor business, are consecutively purchasing company shares.

Samsung Electronics Building, Seocho-gu, Seoul [Image source=Yonhap News]

According to the Financial Supervisory Service's electronic disclosure system on the 4th, Park Yong-in, President of Samsung Electronics' System LSI Business Division, purchased 3,000 shares of company stock at 62,500 KRW per share, amounting to 187.5 million KRW.

President Park's purchase of company shares is interpreted as a move to participate in responsible management. Samsung Electronics DS division executives have been buying company shares since June. The purchase of shares by executives who are well aware of the company's management situation is seen as a gesture to convey to the market their commitment to stock price support, mid- to long-term growth, and responsible management.

Executives buying company shares consecutively during a stock price decline can also reflect expectations that the stock price has hit the 'bottom' and may soon rebound. Last week, DS division leaders including Vice Chairman Jeon Young-hyun, President Lee Jung-bae of the Memory Business Division, President Choi Si-young of the Foundry Business Division, President Nam Seok-woo in charge of Manufacturing & Technology, and Chief Technology Officer (CTO) and Head of the Semiconductor Research Institute Song Jae-hyuk purchased company shares worth a total of 870 million KRW. They also bought company shares worth 1 billion KRW in June.

In addition, Han Jong-hee, Vice Chairman and Head of Samsung Electronics' Device Experience (DX) division; Noh Tae-moon, President of the Mobile Experience (MX) Business Division; Park Hak-gyu, President of the Management Support Office; Yong Seok-woo, President of the Visual Display (VD) Business Division; Lee Young-hee, President of the Global Marketing Office; and Choi Kyung-sik, President of North America, have also been consecutively purchasing company shares.