Kim Seung-jae, CEO of Jaeyoung Solutec, a company specializing in camera actuators, expressed his commitment to responsible management through on-market stock purchases.
Jaeyoung Solutec announced on the 2nd that CEO Kim acquired 290,000 shares of the company's stock, increasing his stake from 5.47% to 5.81%. Including the largest shareholder and related parties, the total shareholding stands at 18.81%.
CEO Kim also purchased shares on the market in March and April to strengthen his control. This year, he has made three on-market purchases in total, securing an additional 750,000 shares.
This acquisition was made based on the judgment that the stock price was excessively undervalued compared to the fundamentals due to the sluggish stock market, along with the aim of strengthening responsible management. The company explained that it is showing a significant increase in performance compared to the previous year by expanding market share within client companies and increasing the sales proportion of high value-added product groups.
A representative from Jaeyoung Solutec said, "Despite uncertain domestic and international environments, we have significantly improved our scale and profitability this year through proactive facility investment and technology development," adding, "We expanded our stake based on the judgment that the stock price was excessively undervalued despite solid performance and fundamentals."
He continued, "As the largest shareholder and CEO responsible for managing the company, I will continue to strive to strengthen responsible management and enhance shareholder value by further increasing my shareholding."
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