Kakao Pay said in a regulatory filing on the 25th that Shin acquired a total of 59,055 shares. He bought 57,055 shares at 5,000 won per share by exercising stock options and purchased another 2,000 shares on the open market at 67,370 won per share. The total purchase was about 420 million won.
The purchases raised Shin’s holdings to 109,055 shares. After taking office in March 2022, Shin declared a commitment to responsible management and bought 50,000 shares in three transactions worth about 3.3 billion won. Kakao Pay said Shin will not sell any of his shares, including his existing holdings and the newly acquired shares, during his tenure as CEO.
A Kakao Pay official said Shin’s open-market purchase, in addition to exercising stock options, was meant to signal confidence in the company’s growth to investors, users and employees and to underscore his commitment to responsible management. The official said the company will not be satisfied with posting annual profitability and will continue working to improve business performance and shareholder value.
* This article has been translated by AI.
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