'Responsible Management' Jeong Eui-seon Buys Hyundai Motor and Mobis Stocks for Three Consecutive Days

Hyundai Motor Group Vice Chairman Chung Euisun is delivering a New Year's address at the 2020 Hyundai Motor Group Kick-off Ceremony held at Hyundai Motor Company headquarters in Seocho-gu, Seoul, on the 2nd. Photo by Hyunmin Kim kimhyun81@

[Asia Economy Reporter Woo Su-yeon] Chung Eui-sun, Executive Vice Chairman of Hyundai Motor Group, purchased Hyundai Motor and Hyundai Mobis shares for three consecutive days to strengthen his commitment to responsible management. The total value of shares purchased over the past three days amounts to 67.7 billion KRW.

According to the Financial Supervisory Service disclosure on the 25th, Executive Vice Chairman Chung acquired an additional 285,517 Hyundai Motor shares and 150,561 Hyundai Mobis shares on the KOSPI market on the 23rd. The acquisition prices were 68,646 KRW and 133,724 KRW per share, respectively, increasing his stake to 1.99% and 0.16% (common stock basis).

Executive Vice Chairman Chung has been steadily purchasing Hyundai Motor and Hyundai Mobis shares for three consecutive days from the 19th through the 23rd. The previous day, he disclosed the purchase of 65,000 Hyundai Motor shares worth 9 billion KRW and 34,000 Hyundai Mobis shares. On the 23rd, he also bought 139,000 Hyundai Motor shares and 72,552 Hyundai Mobis shares worth 19 billion KRW.

Including the shares purchased on this day, the cumulative purchase amount over the three days reaches approximately 68 billion KRW. Hyundai Motor Group explained that amid the unstable stock market caused by the spread of the novel coronavirus (COVID-19), Executive Vice Chairman Chung’s purchases demonstrate his determination to responsibly lead the company.

Following the news of Executive Vice Chairman Chung’s stock purchases, Hyundai Motor’s share price, which had fallen to the 60,000 KRW range at one point, is showing signs of recovery. At the close of trading on the day, Hyundai Motor shares were traded at 84,500 KRW, up 12.97% from the previous day, and Hyundai Mobis shares closed at 169,500 KRW, up 17.3% from the previous day.

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