Kim Gyo-hyun and Lotte Chemical Executives Purchase 440 Million Won Worth of Company Shares

16 CEOs and Division Heads
Acquired a Total of 2,760 Shares of Company Stock
Commitment to Responsible Management and Restoring Stakeholder Trust

Kim Gyo-hyun, Vice Chairman of Lotte Chemical. Photo by Lotte Chemical

[Asia Economy Reporter Choi Seoyun] Lotte Chemical's management purchased company shares worth 440 million KRW as part of their responsible management efforts.

Lotte Chemical announced on the 25th that 16 executives, including Vice Chairman and CEO Kim Kyohyun, Head of Basic Materials Business and Hydrogen Energy Business Division Hwang Jingu, and Head of Advanced Materials Business and Battery Materials Business Division Lee Youngjun, acquired a total of 2,760 company shares on the 14th.

The average acquisition price was approximately 161,000 KRW per share, with a total purchase amount of about 440 million KRW.

In March this year, Lotte Chemical announced various shareholder return policies at the '2022 CEO IR Day' and acquired company shares worth about 50 billion KRW in August and October. The company explained that this time, by additionally pushing for management's purchase of company shares, they aim to strengthen responsible management and enhance shareholder value.

Vice Chairman Kim Kyohyun stated, "Uncertainties are increasing due to cost burdens such as rising international oil prices and weakening demand for petrochemical products. We will focus on battery materials business capabilities, establish a future growth foundation by leading the hydrogen market, and actively enter high value-added materials business to restore strong trust from shareholders and stakeholders and improve corporate value."

With this share purchase, Vice Chairman Kim now holds a total of 640 shares, with an acquisition amount of about 100 million KRW. CEO Hwang Jingu and CEO Lee Youngjun each purchased 320 shares for approximately 51 million KRW.

Lotte Chemical plans to continue announcing shareholder return policies every three years to strengthen trust with shareholders and the market.

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