JB Financial Group, Chairman Kim Ki-hong and Executives Purchase Company Shares

Kim Ki-hong, Chairman of JB Financial Group

[Asia Economy Reporter Kim Min-young] Executives of JB Financial Group have started purchasing their company's shares.

JB Financial Group Holdings announced on the 25th that six executives, including Chairman Kim Ki-hong, purchased 78,000 shares of their own company over four days starting from the 17th.

During this period, Chairman Kim, who bought 40,000 shares, now holds 85,000 shares of the company.

In addition, executives of JB Financial affiliates also purchased 317,000 shares, and JB Financial stated that they have bought 900,000 shares over the past year.

A JB Financial official said, "Despite recently achieving record-high performance, the stock price is excessively undervalued," adding, "This purchase of shares by the executives demonstrates a firm commitment to responsible management, based on the judgment that JB Financial maintains solid fundamentals despite increased uncertainties in the domestic economy."

Last year, JB Financial recorded a return on equity (ROE) of 10.2% and a return on assets (ROA) of 0.77%, based on 'solid management,' and posted a net income of 341.9 billion KRW, a 41.6% increase compared to the previous year.

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