JB Financial chair buys treasury stocks to show commitment to responsible management

JB Financial Group Chairman Kim Ki-hong bought 12,127 company shares to increase his stakes in the firm, demonstrating his commitment to responsible management and enhancing shareholder value, the group said Wednesday. This raises his total stake to 160,000, or 0.08 percent of the company’s outstanding shares, the largest stakes held by the heads of Korea’s top seven financial groups. “I believe my increase in stakes reaffirms confidence in the group's long-term growth and commitment to responsible management and shareholder value increase,” Kim said. This is part of a continued commitment from the chairman, who received part of his annual bonus in treasury shares. He has made large-scale treasury stock purchases since he took the group's helm in March 2019. His term was renewed for the third time recently, extending to 2028. JB's other executives and employees have also increased their stakes in the group, fostering a culture of responsible management and commitment to strengthening corporate value. In February, the group announced a corporate strategy plan, including share buybac