A total of 200 million KRW... Now holding 7,873 shares
Commitment to responsible management and enhancing corporate value
Park Won-jae, Executive Director, also purchases 500 preferred shares
Jo Joo-wan, CEO of LG Electronics, has made a large-scale purchase of company shares. This is interpreted as a demonstration of his commitment to responsible management and enhancing corporate value.
According to the Financial Supervisory Service's electronic disclosure system on the 2nd, CEO Jo purchased 2,500 common shares of LG Electronics on the market. The purchase price per share was 80,000 KRW, making the total purchase amount 200 million KRW.
As a result, the total number of company shares held by CEO Jo increased to 7,873 shares, up from the previously held 5,373 shares. Earlier, since his appointment as CEO in 2023, he had purchased 3,000 shares in two separate transactions. While serving as head of the Australian branch in 2011, he acquired 372 employee stock ownership plan shares, and during his tenure as North America regional representative in 2017 and 2018, he additionally purchased 550 and 590 shares respectively. In 2019, he also bought an additional 861 shares on the market.
In the business community, a CEO's purchase of company shares is generally seen as a sign of commitment to responsible management. Especially during periods of stock price decline, a CEO's purchase of company shares, who is well aware of the internal management situation, sends a message to the market about the intention to defend the stock price and boost corporate value.
LG Electronics' stock price, which was in the 110,000 KRW range last September, is currently moving around 80,000 KRW. On this day, it closed at 77,400 KRW, down 0.64% from the previous day.
On the same day, Park Won-jae, IR officer (executive director), also disclosed that he purchased 500 preferred shares. The average acquisition price was 37,550 KRW. Last year, Director Park also purchased 3,005 common shares and 1,000 preferred shares, and with this recent purchase, he now holds 3,005 common shares and 1,500 preferred shares.
Meanwhile, LG Electronics is scheduled to announce its preliminary first-quarter earnings on the 7th.
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