LG CNS said on the 3rd that CEO Hyun Shin-Gyoon bought 2,500 shares of the company on the open market. The purchase amount is about 150 million won.
The buyback is interpreted as Hyun signaling a commitment to responsible management based on the view that LG CNS shares are undervalued. Recently, LG CNS shares have been sluggish. The share price, which nearly reached 90,000 won in Jun. last year, has now fallen to the 50,000-won range.
An LG CNS official said, "Hyun's share purchase signaled a commitment to responsible management and to enhancing shareholder value," and added, "We will strive to enhance corporate value through business performance and shareholder-friendly policies."
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