Shin Won-geun, CEO of Kakao Pay, Purchases Additional 15,000 Shares of Company Stock
[Asia Economy Reporter Bu Aeri] Shin Won-geun, CEO of Kakao Pay, has purchased an additional 15,000 shares of the company.
Kakao Pay announced on the 16th that CEO Shin purchased 15,000 common shares at 62,094 KRW per share. This amounts to approximately 931.41 million KRW.
This purchase is part of the action plan announced by Kakao Pay in March. CEO Shin had promised to repurchase company shares quarterly for one year starting from the time when the legal restrictions on Kakao Pay's stock repurchase are lifted.
The additional purchase this time was made three months after the purchase in June, as promised.
CEO Shin plans to return any profits gained from selling the purchased shares in the future for the company's growth and public interest. The specific usage plan will be decided through a trust restoration council involving outside directors and labor-management representatives.
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Meanwhile, CEO Shin is currently receiving only the minimum wage without any salary or incentives until the company's stock price reaches 200,000 KRW.
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