"Park Jung-ho, SKT President Who Said 'It's Good to Buy Stocks,' Purchases Company Shares"

[Asia Economy Reporter Seulgina Jo] Park Jung-ho, CEO of SK Telecom, who expressed confidence by telling employees "It's okay to buy stocks" in his New Year's message at the beginning of the year, recently purchased a large amount of company shares. This is analyzed as a sign of his commitment to responsible management as well as confidence in the company's growth.

According to SK Telecom on the 18th, CEO Park purchased 1,500 shares of treasury stock on the market this month, increasing his holdings to 2,500 shares. On the 14th, he bought 1,000 shares at 226,500 KRW per share, and on the 17th, he additionally purchased 500 shares at 230,500 KRW per share on the market. Including the purchase of 1,000 shares worth 258 million KRW in March 2017, the total amounts to 599.75 million KRW.

This is interpreted as a demonstration of CEO Park's commitment to responsible management. In particular, it is also seen as confidence that the company's profit structure will improve starting this year, when 5G popularization is in full swing. Earlier, CEO Park mentioned in his New Year's message to employees that "It's okay to buy stocks," and also said in a meeting with reporters, "Thanks to the improvement in subsidiary performance, the profit structure will get better."

Not only CEO Park, but also Yoon Poong-young, SK Telecom's Chief Financial Officer (CFO), and other key SK Telecom executives have also purchased treasury shares. CFO Yoon bought 500 shares at 224,500 KRW per share on the 14th. Yoo Sang-young, head of SK Telecom's MNO division, and Ha Hyung-il, head of SK Telecom's Corporate 2 Center, also purchased 500 shares each.

Recently, SK Telecom's stock price has remained at its lowest level since June 2018 due to the impact of last year's 5G investment competition. Last year's annual operating profit was 1.1099 trillion KRW, a 7.6% decrease compared to the previous year.

This content was produced with the assistance of AI translation services.