KG Mobility Platform, which operates South Korea's largest direct-used car platform K Car, has executed a stock buyback worth approximately 4 billion won (about $300,000).
The company announced on September 17 that four key executives, including CEO Jeong In-guk, purchased a total of 63,000 shares on the open market.
In this stock purchase, CEO Jeong acquired 40,000 shares, while Park Ji-won, head of the rental car division, and Jeon Ho-il, head of marketing, each bought 10,000 shares. Hwang Jae-hyuk, head of the auction division, purchased 3,000 shares. The total investment amounts to about 4 billion won. Previously, CEO Jeong bought 10,000 shares for around 2.5 billion won in 2022.
The company stated, "This purchase is intended to strengthen the executives' commitment to responsible management based on their confidence in the company's long-term growth potential and corporate value."
KG Mobility Platform was established on August 31 as a family company of KG Group. It plans to enhance synergies with KG Group in key businesses, including used car buying and selling, rental cars, and auctions.
CEO Jeong In-guk remarked, "This stock purchase demonstrates the executives' confidence in the company's growth potential and corporate value through action."
* This article has been translated by AI.
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