POSCO Group Executives Purchase Stocks Worth 2.6 Billion Won... Practicing Responsible Management

[Asia Economy Reporter Hwang Yoon-joo] Executives of POSCO Group have taken steps to defend the stock price and practice responsible management by purchasing company shares.

Executives from five listed companies?POSCO, POSCO International, POSCO Chemical, POSCO ICT, POSCO Steel, and POSCO M-Tech?have voluntarily purchased company shares as the stock price continued to weaken due to worsening internal and external conditions such as COVID-19, demonstrating their commitment to responsible management.

According to disclosures from the Financial Supervisory Service and POSCO, 51 executives, including POSCO Chairman Choi Jeong-woo, purchased a total of 16,000 shares worth 2.6 billion KRW by the 23rd.

Additionally, 89 executives from the five POSCO Group companies purchased shares worth a total of 2.1 billion KRW in their respective companies, including 74,000 shares of POSCO International and 15,000 shares of POSCO Chemical, spreading voluntary participation among group executives to express their commitment to responsible management.

The purchase of company shares by POSCO Group executives aims to send a signal to the market that the company’s stock is excessively undervalued amid global stock market instability. At the same time, by showing confidence in the recovery of the company’s stock price and a commitment to responsible management, it is expected to enhance market trust in the company.

POSCO stated, "It is expected that the purchase of company shares by all executives of POSCO Group companies will continue going forward."

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