Chief Executive Officer Shin Won-geun of Kakao Pay acquired 59,055 shares of the company on the 25th. Through the exercise of stock options, 57,055 shares were purchased at 5,000 won per share, and through an additional on-market buy, 2,000 shares were purchased at 67,370 won per share. The total purchase amount is 4.2 billion won.
With this purchase, Shin's holdings of the company's shares increased to 109,055 shares. Since taking office in Mar. 2022, Shin has purchased 50,000 treasury shares in three rounds for 3.3 billion won. Shin is said to have no plans to sell the equity held while serving as CEO. Kakao Pay held a board meeting on the 20th and resolved to reappoint Shin to a two-year term.
Kakao Pay said, "Shin's purchase of company shares was to signal to investors, users and employees confidence in greater growth and to once again underscore the commitment to responsible management."