Hanwha Investment & Securities, Management Buys Company Shares... "Reflecting Commitment to Responsible Management"

Kwon Hee-baek, CEO of Hanwha Investment & Securities, attending the Pinetree Securities signboard ceremony with executives and employees (Photo by Asia Economy DB)

[Asia Economy Reporter Kum Boryeong] The management of Hanwha Investment & Securities has started buying back its own shares.

Hanwha Investment & Securities announced on the 19th through the 'Report on Ownership Status of Executives and Major Shareholders' disclosed from the 11th to the 18th that the management purchased 212,773 shares of the company's stock. Among them, CEO Kwon Hee-baek acquired 43,700 shares.

This strongly demonstrates the management's commitment to boosting the stock price. A Hanwha Investment & Securities official explained, "Despite recording three consecutive years of profits and continuous growth, the stock price remained at a low level, which was the background for the management's purchase of treasury shares."

Last year, Hanwha Investment & Securities entered the 1 trillion KRW tier in equity capital by participating in a third-party allotment rights offering. This secured its position as a mid-to-large sized company. Additionally, the Vietnam subsidiary 'Pine Tree Securities' was officially launched. Pine Tree Securities will serve as a foothold for expanding business mainly in Southeast Asia in the future.

Han Jong-seok, Executive Director of the Management Support Division at Hanwha Investment & Securities, said, "This management's purchase of treasury shares strongly reflects the responsible management will to take the company to the next level of growth," adding, "Although we have grown continuously over the past three years, the stock price was low, so we purchased treasury shares to reward our shareholders."

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