[Infostock Daily= Reporter Park Hyo-sun] Son Tae-seung, chairman of Woori Financial Group, bought 5,000 shares of treasury stock in the market.
14th According to Woori Financial Group, Chairman Son Tae-seung will hold a total of 78,127 treasury shares with the purchase of the stock.
Chairman Son Tae-seung's share buyback is the third time this year alone.
Son Tae-seung's purchase of treasury stocks is a way to overcome market instability and show confidence in Woori Financial Group's fundamentals.
The global financial markets such as the United States and Europe are fluctuating due to the aftermath of the new Coronavirus infection (Corona 19 or COVID-19) Pandemic, and the domestic stock market is also showing a sharp decline due to large-scale selling by foreign investors.
In particular, financial stocks, which have a high proportion of foreign investors, are falling sharply. As of the end of March, the PBR ratio of domestic financial holding companies remained about 0.2 times average, which is lower than the 2008 global financial crisis (0.37 times) and the 1998 IMF financial crisis (0.28 times).
Woori Financial Group emphasized that fundamentals are completely different from the previous financial crisis.
In particular, Woori Financial Group explained that it is possible to overcome market instability and concerns as it is now with stable profit generation ability and solid soundness management ability that have been achieved over the past few years.
An official of Woori Financial Group said, "The purchase of shares by Chairman Son Tae-seung is an expression of strong will and confidence to fulfill the social role of finance in the midst of internal and external crisis in the second year of the group's launch, "He said.
Reporter Park Hyo-sun hs1351@infostock.co.kr
