Seoul – In a significant show of confidence in his company, Samsung Electronics Co. Vice Chairman Han Jong-hee purchased 739 million won (US$555,600) worth of company shares, as revealed by financial data on Friday. This strategic acquisition is part of a broader initiative by top executives to bolster the electronics giant’s share price amid market fluctuations.
According to Yonhap News Agency, Han acquired 10,000 shares on Thursday, boosting his total ownership to 25,000 shares, based on the latest filings with the Financial Supervisory Service. This move aligns with actions taken by other senior leaders at Samsung, such as Jun Young-hyun, head of the semiconductor division, and Roh Tae-moon, who oversees the mobile business, indicating a collective effort by Samsung’s top brass to support the company’s valuation on the Seoul bourse.
Samsung Electronics, recognized globally as the leading manufacturer of memory chips and smartphones, saw its shares close at 68,900 won on the main Seoul exchange, marking a slight decline of 0.14 percent from the previous session.
This purchase by Vice Chairman Han is seen not just as a financial investment but as a strong endorsement of the company’s current strategy and future prospects, suggesting a stable outlook from the management despite the ongoing market pressures.