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| ▲ LG Electronics CEO Cho Joo-wan is seen in this photo provided by LG Electronics Inc. on June 15, 2023. (PHOTO NOT FOR SALE) (Yonhap) |
LG Electronics CEO-stock purchase
LG Electronics CEO buys its shares for 2nd time this year
SEOUL, June 15 (Yonhap) -- LG Electronics CEO Cho Joo-wan bought 123 million won (US$96,400) worth of the tech company's stock earlier this week, a regulatory filing showed Thursday, in his second such purchase this year.
Cho bought 1,000 LG Electronics shares at 123,500 won per share Tuesday, bringing his total to 5,373 shares in the company.
Similarly in March, he bought 2,000 shares at 113,600 won each.
The move is seen as part of efforts to show his confidence in the company's growth potential and an act of responsible management.
LG Electronics shares have been on the rise this year on the rosy prospects of its home appliances and electric vehicle (EV) component businesses.
The tech company has stepped up its efforts to diversify its business portfolio in recent years, aggressively advancing into the EV component business, robotics and EV charging services, among others. It is also working with the Canadian artificial intelligence computing startup Tenstorrent to develop next-generation chips that could potentially power consumer appliances and automotive products.
LG Electronics shares were trading at 123,100 won at 2:27 p.m. Thursday, up 38.78 percent over the past six months.
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