Newborns This Year Also 'Jubjub' in Bear Market... Owner Family Expands Stake

Major Shareholder and Relatives Continue Buying Shares
Chairman Jo Seok-rae Purchases Shares of Hyosung and Affiliates on the Market This Month

On the 17th, the KOSPI opened at 2,187.17, down 25.38 points (1.15%) from the previous trading day, as employees were busy working in the Hana Bank dealing room in Jung-gu, Seoul. The won-dollar exchange rate started at 1,440.9 won, up 12.4 won. Photo by Kim Hyun-min kimhyun81@

[Asia Economy Reporter Ji Yeon-jin] Major shareholders of listed companies have been expanding their stakes through on-market purchases since the beginning of this month. As the domestic stock market has fallen close to historic lows, they are increasing their holdings through bargain buying. Even relatives of major shareholders born in August this year have purchased shares.

According to the Financial Supervisory Service's electronic disclosure system on the 20th, Chairman Kim Jeong-don of Miwon Holdings bought 2,153 shares on the market four times this month. Chairman Kim, the largest shareholder holding 10.41% of Miwon Holdings, also purchased 6,247 shares last month. Miwon Holdings traded at the 150,000 KRW level due to rising grain prices caused by the Ukraine war, but then continued to weaken, hitting a new low of 122,250 KRW on the 11th.

Yuanta Securities' largest shareholder, Yuanta Securities Asia Financial Services Private Limited, bought 5,000 shares on the market, and in total purchased Yuanta Securities shares seven times this month, increasing its stake from 54.06% to 54.11%. Sajodairim, owner of Sajo Oyang, bought 13,960 shares on the market four times from the 12th to the 17th of this month. Honorary Chairman Cho Seok-rae of Hyosung purchased 975 shares of Hyosung Advanced Materials, 780 shares of Hyosung TNC, 770 shares of Hyosung Chemical, and 3,050 shares of Hyosung.

KG Chemical's major shareholder's relative, Mr. Kwak (age 40), bought 13,000 shares, and a newborn baby born in August this year also purchased 5,000 shares on the market. Gu Hyeong-mo, eldest son of Gu Bon-jun, Chairman of LX Holdings, bought 87,882 shares on the market three times this month. Kim Hyun-soo, CEO and largest shareholder of Pharmicell, bought 9,851 shares on the 7th and 58,014 shares on the 17th.

Recently, on-market purchases by major shareholders' families are interpreted as moves to expand their stakes at low prices. The KOSPI price-to-book ratio (PBR) fell to 0.87 as of the previous day. This indicates that the corporate value of KOSPI-listed companies is trading below their total assets.

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