CEO Hwang Jong-hyun Immediately Buys Company Shares Upon Joining SPC Samlip... Practicing Responsible Management

CEO Hwang and Executives Purchase 2,000 Company Shares... Enhancing Shareholder Value and Stabilizing Stock Price
Will Continue Future Growth Based on Solid Fundamentals and Stable Business Structure

[Asia Economy Reporter Lee Seon-ae] "We are confident in the increase of SPC Samlip's corporate value." As soon as Hwang Jong-hyun, the new CEO of SPC Samlip, took office, he began practicing responsible management. This move aims to enhance shareholder value after the corporate value was undervalued due to the spread of the novel coronavirus infection (COVID-19).

According to SPC Samlip on the 8th, Hwang and other key executives recently purchased 2,000 shares of the company's stock through on-market buying. SPC Samlip explained, "The executives' purchase of company shares was carried out to strengthen responsible management aimed at enhancing shareholder value and stabilizing stock prices, as the domestic and international stock markets suffered significant damage due to the COVID-19 impact, causing the stock to be excessively undervalued compared to the corporate value."

Earlier, on the 27th of last month, Hwang was appointed as the new CEO and inside director of SPC Samlip. He is a sales and marketing expert who has led numerous mergers and acquisitions (M&A) over more than 30 years at Dongwon Group. He is credited with significantly growing Dongwon F&B's dairy business. Just before moving to SPC Samlip, he served as CEO of Samjin Fish Cake, overseeing the domestic operations of the manufacturing corporation Samjin Food and the distribution corporation Samjin Fish Cake. Confident in increasing corporate value, CEO Hwang said, "We will proactively respond to changing consumer trends and focus on securing new growth engines to strengthen future competitiveness."

The securities industry evaluates that SPC Samlip has solid fundamentals in its core bakery business, and with the expansion of fresh convenience foods such as ready meals and strengthening online channel sales, sales are growing, indicating sufficient potential for corporate value increase. Senior researcher Jo Sang-hoon of Samsung Securities said, "Even considering the impact of COVID-19, the recent decline in SPC Samlip's stock price is judged to be excessive," adding, "The growth of the bakery business, which is the cash cow, is being maintained, and diversifying the business portfolio with fresh foods, rest areas, and startup investments (JUST) is also positive from a long-term perspective."

SPC Samlip's stock price has recently shown a sharp upward trend reflecting these market expectations. As of the 7th, it recorded 66,300 won, up 3.76% from the previous day. It has shown a continuous rise for two weeks since March 23, increasing by nearly 60%.

An SPC Samlip official emphasized, "Despite the difficult environment with a continued low-growth economic trend, CEO Hwang has expressed his determination to further grow the company," adding, "We will overcome the current situation based on solid fundamentals and a stable business structure."

This content was produced with the assistance of AI translation services.