Hitejinro's key executives bought company shares one after another, signaling a commitment to responsible management.
According to the Financial Supervisory Service's electronic disclosure system on the 18th, Chief Executive Officer Jang In-seop of Hitejinro recently purchased 5,000 Hitejinro shares. Separately, eight executives also bought a total of 10,831 shares. In addition, 11 executives plan to each buy at least 1,000 more shares, so the total number of Hitejinro shares to be acquired by the CEO and 20 executives is expected to reach around 30,000 by next month.
Because the CEO and other key executives bought company shares around the same time, the industry is interpreting the move as an effort to underscore responsible management and to show the market confidence in the company's mid- to long-term growth strategy.
Hitejinro is facing the task of defending its earnings as the slowdown in domestic liquor consumption coincides with expense pressures. In fact, on a consolidation basis, Hitejinro's sales in the first quarter this year were 590.8 billion won and operating profit was 55.9 billion won, down 3.6% and 10.8%, respectively, from a year earlier.
Hitejinro is nurturing its overseas business as a future growth pillar to offset the growth limits of the domestic market. In particular, the Vietnam production plant is Hitejinro's first overseas production base and is expected to serve as a foothold for targeting Southeast Asia and other global markets. The Hitejinro Vietnam plant is being built in the Green i-Park industrial complex in Thai Binh Province and is slated for completion in 2026.
Earlier, through its "Global Vision 2030," Hitejinro set a goal of achieving 500 billion won in overseas soju sales by 2030. The company plans to expand the market by increasing overseas soju sales volume and broadening local distribution networks, while strengthening product lines tailored to local consumer tastes, such as fruit soju.
In Korea, the company aims to defend profitability through expense efficiencies and improvements to its management structure, while overseas it is pursuing top-line growth by expanding its production base and distribution networks.