Hyundai Elevator said Monday that its executives, including CEO Cho Jae-cheon, purchased about 14,500 treasury shares in a show of confidence in the company's long-term growth and commitment to shareholder value.
The purchases were made through open-market transactions over a one-week period beginning July 6.
The company said the voluntary purchases reflect management's commitment to responsible governance, restoring market confidence and protecting shareholder interests. They also signal executives' confidence in the company's long-term growth prospects and underlying competitiveness.
Despite a challenging global economy and weakness in related industries, Hyundai Elevator said it had maintained solid earnings and would continue strengthening shareholder returns while pursuing a fair market valuation.
The company has also been expanding its future growth portfolio with technologies including Innoblock, the world's first modular installation method for high-rise elevators, delivery robot integration technology and H-Port, a vertiport for urban air mobility.
"The executives' voluntary share purchases reflect their confidence in Hyundai Elevator's long-term growth and corporate value," a company official said. "We will continue implementing shareholder-friendly policies as part of our value-up strategy."
jwjeon7625@heraldcorp.com
