SOOP's key executives have initiated a share buyback to strengthen accountability and enhance shareholder value.
On June 4, SOOP announced that CEO Choi Young-woo, CEO Lee Min-won, Chief Technology Officer (CTO) Choi Dong-geun, and Chief Financial Officer (CFO) Lee Byung-ho acquired company shares through market purchases.
Choi and Lee each purchased shares worth approximately 100 million won, while CTO Choi and CFO Lee acquired shares valued at around 50 million won each.
The company explained that this share buyback reflects the executives' confidence in the company's competitive position and long-term growth potential, aligning the interests of management and shareholders to enhance corporate value.
With this buyback, SOOP plans to accelerate the execution of its core strategies, including enhancing platform services, expanding collaborations with streamers and partners, growing its global user base, and improving its revenue structure. The goal is to strengthen both profitability and growth.
Additionally, SOOP announced a three-year shareholder return policy at its annual general meeting in March of last year. The company plans to allocate more than 25% of its consolidated net income for shareholder returns over the next three years and has changed its dividend criteria from free cash flow to net income.
* This article has been translated by AI.
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