Park Chang-ho, CEO of SG, Purchases 1 Billion Shares of Company Stock for Responsible Management
[Asia Economy Reporter Jang Hyowon] SG, a specialized eco-friendly asphalt concrete company, announced on the 14th that CEO Park Changho purchased a total of 1 billion KRW worth of treasury shares.
According to the Financial Supervisory Service's electronic disclosure system on the 11th, CEO Park Changho acquired 468,633 shares of SG treasury stock to enhance shareholder value and demonstrate responsible management. The total purchase amount of the shares bought through on-market transactions is approximately 1 billion KRW.
A company official stated, "Starting this year, the asphalt concrete products, which were previously 'competitive products among small and medium enterprises,' have seen regulatory changes allowing mid-sized companies like SG to participate in bids in the Seoul, Gyeongin, Daejeon, Sejong, and Chungnam regions. At the same time, SG is actively acquiring and managing asphalt concrete companies in the metropolitan area and Chungnam region, so we expect strong performance in 2022."
They added, "CEO Park Changho's purchase of treasury shares not only reflects his firm commitment to the eco-friendly asphalt concrete business but also shows strong confidence in this year's performance."
CEO Park Changho said, "Recently, we judged that SG's corporate value was undervalued, so the company is conducting a 10 billion KRW treasury stock purchase at the corporate level to enhance shareholder value. Confident in our growth as a specialized eco-friendly asphalt concrete company, I personally purchased an additional 1 billion KRW worth of treasury shares to instill trust among our shareholders."
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Meanwhile, this year the company plans to accelerate the commercialization of EcoSteelAscon, an eco-friendly asphalt product. Additionally, as the grace period for installing eco-friendly asphalt concrete facilities ended on December 31, 2021, starting in 2022, SG plans to actively promote its eco-friendly asphalt concrete facility, SGR+, through terrestrial broadcasting advertisements and distribute it nationwide to asphalt concrete plants, laying the foundation for sustainable growth.
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