Jung Eui-sun Acquires 19 Billion KRW Worth of Hyundai Motor and Hyundai Mobis Shares... "For Responsible Management" (Update)

Chung Euisun, Executive Vice Chairman of Hyundai Motor Company. / Photo by Hyunmin Kim kimhyun81@

[Asia Economy Reporter Kiho Sung] Hyundai Motor Company and Hyundai Mobis announced on the 23rd that Chung Eui-sun, Vice Chairman of Hyundai Motor Group, purchased shares in each company to strengthen responsible management.

According to the Financial Supervisory Service's electronic disclosure system on the same day, Vice Chairman Chung purchased 139,000 shares of Hyundai Motor on the open market. The acquisition price was 68,435 KRW per share, totaling approximately 9.5 billion KRW. As a result, Vice Chairman Chung's stake in Hyundai Motor increased from 1.81% to 1.86%.

Similarly, Hyundai Mobis additionally disclosed that Vice Chairman Chung purchased 72,552 common shares on the open market. The acquisition price was 130,789 KRW per share, with a total purchase amount of about 9.5 billion KRW. Consequently, Vice Chairman Chung's stake in Hyundai Mobis rose from 0% to 0.08%.

Hyundai Motor Group explained that this purchase was made as part of responsible management amid difficult external conditions such as the novel coronavirus disease (COVID-19).

A Hyundai Motor Group official stated, "This activity reflects the determination to responsibly lead the company amid the unstable financial and stock market conditions caused by the global spread of COVID-19," adding, "Along with voluntary stock purchases by Hyundai Motor and Hyundai Mobis executives to overcome the crisis, we expect this initiative by Vice Chairman Chung and other management to contribute to enhancing future corporate value and shareholder value."

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