[Featured Stock] Krafton, Chairman Jang Byung-gyu's Share Buyback Shows Effect with 3% Increase

[Asia Economy Reporter Minji Lee] Krafton is showing an intraday rise of over 3%.

At 10:59 a.m. on the 8th, Krafton was trading at 280,000 KRW, down 3.32% from the previous trading day. Early in the session, Krafton experienced a slight decline influenced by the drop in the U.S. stock market but soon shifted to an upward trend.

According to the Financial Supervisory Service's electronic disclosure system on the previous day, Krafton Chairman Jang Byung-gyu purchased an additional 10 billion KRW worth of treasury shares from December 2 to 4, bringing his total purchases to 30 billion KRW worth of shares within a month. Earlier, Chairman Jang had announced plans to buy back shares during the Q4 earnings conference call.

Chairman Jang explained, "Even considering the impact of the global macroeconomic trends on stocks, I believe the recent stock price is undervalued given the various initiatives and business expansions Krafton is preparing," adding, "I plan to purchase a certain portion of Krafton shares."

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