Naver CEO Choi Su-yeon Purchases Additional 200 Million KRW of Company Shares for Responsible Management Purpose
Naver CEO Choi Soo-yeon has additionally purchased Naver shares worth 200 million KRW.
Naver announced on the 9th that CEO Choi bought 1,244 shares of the company's stock at 160,000 KRW per share.
Since taking office, CEO Choi has been buying company shares for responsible management purposes. In March 2022, she purchased about 100 million KRW worth, and in April last year, she acquired 200 million KRW worth of Naver shares. Including this recent purchase, the total amount of Naver shares bought by CEO Choi reaches 500 million KRW.
CEO Choi also established a compensation system to focus on increasing corporate value. The largest portion of her compensation is RSU (Restricted Stock Units), which are paid out based on the percentile ranking of stock price increases within the KOSPI 200, ranging from 0 to 150%. If the stock price falls, the compensation decreases accordingly.
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Meanwhile, in accordance with the shareholder return plan established in May last year, Naver canceled about 26.42 billion KRW worth of treasury shares, equivalent to 1% of the issued shares, on the 7th of last month.
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