À̹ÌÁö È®´ë Sohn Tae-seung, Chairman of Woori Financial Group and chief executive of Woori Bank.
Executives of South Korea¡¯s Woori Financial Group Inc. chipped in to bolster the stock value of the new entity that went relisted last week from Woori Bank after holding transition by making stock purchases out of their pocket.
According to multiple sources from the financial industry on Monday, Sohn Tae-seung, chairman of Woori Financial Group and chief executive of Woori Bank Co. bought 5,000 Woori Financial shares on February 13, the first day Woori Bank shares were newly listed as Woori Financial shares on a one-to-one ratio.
The shares were purchased at a unit price of 15,360 won ($13.7) per share. The latest buyback has increased Sohn¡¯s total stock holding of Woori Financial Group to 20,296 shares or 43,127 shares when including employee account.
Other executives followed.
Park Kyung-hoon and Choi Dong-soo, both vice presidents of Woori Financial Holdings, also each purchased 2,000 shares at a per share price of 15,250 won. Several other director-level executives also bought 1,000 to 2,000 shares of Woori Financial recently. On February 13 alone, Woori Financial executives bought back a combined 23,532 shares totaling 360 million won.
Industry sources noted that the recent buying of shares is largely aimed at boosting stock value and showing responsible management. The stock price trend of Woori Financial has been a pressing matter for executives as it is considered one of key elements bringing stability amid early phase in the transition and merger and acquisitions of non-banking entities including asset management firms.
Shares of Woori Financial ended up 0.64 percent at 15,750 won on Monday.
By Kim Gang-rae and Lee Eun-joo
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