JTC CEO Gu Cheol-mo Purchases 164,000 Shares on the Market

[Asia Economy Reporter Koo Eun-mo] JTC announced on the 27th through a disclosure that CEO Koo Cheol-mo purchased 80,000 shares and 84,000 shares respectively on the market over two days starting from the 25th. The total purchase amount is approximately 660 million KRW. CEO Koo Cheol-mo's holdings have expanded to 20,867,000 shares, and the shareholding ratio has risen to 59.61%.

JTC CEO Koo Cheol-mo stated, "Due to the global spread and prolonged signs of COVID-19, volatility in the capital market has increased, and we believe the value of our company listed on KOSDAQ has fallen excessively. Although the global tourism and travel industry is facing very difficult circumstances, if all employees unite to enhance corporate and shareholder value, we expect a faster recovery than anticipated."

JTC has accumulated experience turning crises into opportunities, such as during the 2011 Great East Japan Earthquake and the 2015 MERS outbreak. At the time of the Great East Japan Earthquake, most duty-free business locations (stores) were temporarily closed, and efforts were focused on pioneering the Chinese market to secure new growth engines. Additionally, considering natural disasters such as earthquakes and typhoons, which are characteristic of Japan's geography and can make the business environment difficult, JTC maintains cash assets to prepare for emergencies.

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