Woori Financial Group CEO buys W54m of treasury stocks

Woori Financial Group Chairman and CEO Son Tae-seung has acquired 5,000 treasury stocks worth over 54 million won ($46,800) to enhance its corporate value, the banking group said Tuesday.

Son bought the stocks at a price of 10,875 won per share.

Since the chairman took office in March 2018, he has bought treasury stocks 14 times. With the latest purchase, he now holds a total of 93,127 shares.

The financial services holdings firm plans to implement a more active set of shareholder return policies after logging a record result in the first half of this year.

Last month, Woori Financial Group reported its biggest-ever net profit of 1.42 trillion won in the first six months of 2021, up 114.9 percent from a year earlier.

Buoyed by the stellar performance, the group issued its first interim dividend in its history. With a cash dividend of 150 won per share, total dividends amounted to 108.3 billion won.

By Park Han-na (hnpark@heraldcorp.com)