Fourth Share Purchase Since Taking Office in 2022
"No Share Sales During My Tenure as CEO"
Shin Wongeun, CEO of Kakao Pay, has demonstrated his commitment to strengthening responsible management by additionally purchasing shares of his own company.
On the 25th, Kakao Pay announced that CEO Shin had acquired 59,055 shares of the company.
He exercised his stock options to purchase 57,055 shares at 5,000 won per share and additionally bought 2,000 shares on the market at 67,370 won per share. The total purchase amount is approximately 420 million won.
As a result, the number of Kakao Pay shares held by CEO Shin has increased to 109,055.
Since taking office in March 2022 and declaring responsible management, CEO Shin has purchased 50,000 treasury shares in three separate rounds, totaling about 3.3 billion won.
Kakao Pay stated that CEO Shin will not sell any of his shares, including those he already held and those newly acquired, during his tenure as CEO.
A Kakao Pay official explained, "The fact that CEO Shin purchased company shares not only through stock options but also through on-market purchases is intended to express his confidence in greater growth to investors, users, and internal employees, and to once again underscore his commitment to responsible management."
The official added, "We will not be satisfied with achieving an annual profit, and we will make unwavering efforts to deliver continuous business performance and enhance shareholder value."
Earlier, on the 20th, Kakao Pay held a board meeting and approved a proposal to reappoint CEO Shin for another two-year term.
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