[Featured Stock] SK Keeps Shareholder Return Promise, Rises Over 2% on Treasury Stock Buyback News

[Asia Economy Reporter Hwang Yoon-joo] SK is on the rise from the early session following news of its treasury stock acquisition.

As of 10:13 AM on the 31st, SK is trading at 233,500 KRW, up 2.64% (6,000 KRW) compared to the previous day.

SK announced that it has resolved to repurchase treasury shares worth 200 billion KRW to enhance shareholder value. This amounts to approximately 1.2% of its market capitalization. The treasury shares acquired through this trust contract will be entirely canceled after the contract period ends and upon separate approval by the board of directors.

Choi Kwan-soon, a researcher at SK Securities, stated, "This is the first treasury stock acquisition in about three years since acquiring 4.7% in Q4 2019," adding, "During that period, the stock price rose 15.6% during the purchase period."

Researcher Choi also noted, "According to the shareholder return policy announced last March, cancellation of treasury shares is also under consideration," and evaluated, "In addition to the treasury shares being purchased this time, there is a high possibility of canceling existing treasury shares, which is expected to meet the market's expectations for shareholder returns."

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