KMH Hi-Tech Executives Purchase 60,000 Shares of Company Stock
Enhancing Shareholder Value and Promoting Responsible Management as Part of Our Commitment
[Asia Economy Reporter Minwoo Lee] KMH Hi-Tech announced on the 27th that four executives, including CEO Sang-guk Lee, purchased approximately 60,000 shares of the company's stock. Last month, KMH, the largest shareholder, also expressed its commitment to responsible management by acquiring additional KMH Hi-Tech shares through on-market purchases.
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KMH Hi-Tech stated, "Amid the unstable stock market due to the impact of the novel coronavirus disease (COVID-19), the stock was excessively undervalued compared to the company's value, and this decision was made as part of responsible management to enhance shareholder value." They added, "KMH Hi-Tech has a high export ratio and operates five overseas corporate factories, including in China. While it is true that disruptions in export, import, and customs clearance were expected, all factories are currently operating normally thanks to the prompt initial response of the Chinese corporation. Additionally, the operating results for the first quarter of this year are expected to maintain a profitable trend similar to last year."
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