"Stock Price Defense and Responsible Management" 80 KT Executives Purchase 2 Billion KRW Worth of Company Shares
[Asia Economy Reporter Koo Chae-eun] Ku Hyeon-mo, CEO of KT, along with 80 key KT executives, purchased a total of 2 billion KRW worth of company shares through on-market buying since the 18th of last month.
On the 2nd, a KT official explained, "Although stock market volatility has increased recently due to external uncertainties caused by the novel coronavirus disease (COVID-19), we judged that KT shares have been excessively undervalued compared to the company's value. With confidence that customer-centric management will enhance the company's value and enable further growth, we actively engaged in share repurchases."
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Yoon Kyung-geun, KT CFO and Head of Finance, stated, "The new CEO's appointment and the industrial environment changes based on 5G/AI will provide a good foundation for KT to lead the telecommunications/platform market and strengthen its leadership. Through executives' share purchases, we will reinforce responsible management and do our best to enhance corporate value."
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