All executives at Hyundai Elevator bought company shares under a pledge of accountable management and enhancing shareholder value.
According to the Financial Supervisory Service's electronic disclosure system on the 13th, more than 30 executives, including Chief Executive Cho Jae-cheon of Hyundai Elevator, acquired about 14,500 company shares through on-exchange purchases for a week starting on the 6th.
The share purchases were made through executives' voluntary participation. Hyundai Elevator said the management directly bought shares to signal to the market its confidence in the company's mid- to long-term growth potential and corporate value and to strengthen accountable management.
Hyundai Elevator said it is maintaining solid results despite a global economic slowdown and a slump in upstream industries such as construction. Based on this, it plans to carry out shareholder return policies and have the company's corporate value properly assessed in the capital market.
Hyundai Elevator is also pursuing new technology development to address the future Smart City market. It is nurturing as mid- to long-term growth engines the world's first commercialized high-rise modular elevator installation method, "Inno-Block," delivery robot integration technology, and the vertical hangar-type vertiport, a core infrastructure for urban air mobility (UAM), "H-PORT."
A Hyundai Elevator official said, "The voluntary purchase of treasury shares by all executives is a decision that demonstrates in action a firm belief in the company's mid- to long-term growth and corporate value," adding, "We will faithfully carry out a variety of shareholder return policies and establish ourselves as a model value-up company."