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Photo = Yonhap news |
[Alpha Biz= Reporter Kim Jisun] Kakao's stock closed higher on November 19, gaining 3.28% to finish at KRW 36,250 on the KOSPI market. This marks continued upward momentum following a series of executive share purchases aimed at restoring investor confidence.
According to disclosures on the Financial Supervisory Service’s electronic filing system, nine Kakao executives purchased a total of approximately KRW 452.6 million worth of company shares between November 8 and 14. On average, each executive bought around KRW 50 million worth of shares.
The largest purchaser was Lee Sang-ho, the performance leader of Kakao’s KananaX division, who acquired shares worth about KRW 51.01 million (1,520 shares). Additionally, Kakao CEO Jeong Shina purchased shares twice this year, buying a total of KRW 100 million worth in May and August.
These purchases are seen as part of Kakao’s effort to reinforce responsible management practices and rebuild shareholder trust. Kakao's stock has risen more than 10% over the past three trading days, recovering from its 52-week low of KRW 32,550 recorded on November 14.
The executive share buyback underscores Kakao's commitment to restoring investor confidence and supporting the company’s stock performance in challenging market conditions.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
