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Moon Hyuk-soo, CEO of LG Innotek (LG Innotek) |
[Alpha Biz= Reporter Kim Jisun] Moon Hyuk-soo, CEO of LG Innotek, has made his first purchase of company shares since assuming the role. His acquisition is seen as a move to demonstrate responsible management amid the recent decline in LG Innotek's stock price.
According to the Financial Supervisory Service's electronic disclosure system on the 11th, CEO Moon bought 300 shares of LG Innotek on the open market at 171,000 KRW per share, totaling 51.03 million KRW (approximately $38,000). This purchase raises his total holdings in LG Innotek to 1,500 shares. This is his first share purchase since March 2020 and his first since he became CEO in December last year.
CEO Moon's acquisition of shares is viewed as a commitment to bolster corporate value and convey confidence to the market. Executive stock purchases often signal leadership's confidence in the company and can help support the stock price.
LG Innotek’s stock, which reached over 300,000 KRW per share in July, has since steadily declined and is currently trading in the mid-100,000 KRW range.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
