Krafton Jang Byeong-gyu Purchases 10 Billion Won Worth of Company Shares

[Asia Economy Reporter Kang Nahum] Jang Byung-gyu, chairman of Krafton, recently purchased Krafton shares worth 10 billion KRW. This move aims to defend the falling stock price and enhance shareholder value.

According to the Financial Supervisory Service's electronic disclosure system, Chairman Jang bought a total of 36,570 Krafton shares (0.09%) on the market over two days starting from the 17th. The total value is approximately 10 billion KRW.

Chairman Jang had previously stated during the 2021 Q4 earnings conference call on the 10th, "I judged that Krafton's stock price was undervalued, so I plan to purchase a certain portion of Krafton shares after today."

He added, "The global macroeconomic trends have significantly influenced the stock market, and Krafton, which has not been listed for long, was also greatly affected. Nevertheless, considering the attempts and business expansions we are preparing, I am confident in our growth potential."

This active stock purchase by Chairman Jang comes as Krafton's stock price shows no signs of rebound. As of the closing price on that day, Krafton's stock was 273,500 KRW. This is about a 47% drop compared to last year's peak (567,000 KRW).

With the stock price decline, the estimated loss per Krafton employee shareholder exceeds 60 million KRW. The Krafton employee stock ownership association was allocated 351,525 shares at the public offering price of 498,000 KRW at the time of listing. This corresponds to 264 shares per employee, equivalent to 131.47 million KRW.

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