Emart to Buy Back 121.5 Billion KRW of Treasury Shares to "Enhance Shareholder Value"

[Asia Economy Reporter Yuri Kim] Emart announced on the 25th that it will acquire 1 million shares of its own stock worth 121.5 billion KRW.

The number of shares to be acquired (1 million shares) represents 3.6% of Emart's total issued shares. Based on the closing price on the 24th (121,500 KRW), this amounts to approximately 121.5 billion KRW. The acquisition period is scheduled from the 26th to May 25th, lasting three months, and will be conducted through on-market purchases.

Emart stated that it decided to acquire its own shares because it judged that the recent stock price had fallen excessively below the actual corporate value, making it necessary to "enhance shareholder value through stock price stabilization."

An Emart official said, "This share repurchase decision was made based on confidence in improving the company's future corporate value," adding, "We will continue to strengthen shareholder interests through various efforts for future growth, such as online-offline integration, acceleration of digital transformation, and strategic asset reallocation."

To enhance shareholder value, Emart previously repurchased 900,000 shares of its own stock (worth about 100 billion KRW) in August 2019. In November 2020, as part of its shareholder return policy, it announced that it would use 15% of annual operating profit based on separate financial statements as shareholder return funds for the next three years, and if the return funds fall below 2,000 KRW per share, a minimum dividend of 2,000 KRW per share would be paid.

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