Namsung Largest Shareholder to Purchase 1 Billion Won Worth of Shares on Open Market

The largest shareholder and related parties of Namsung will purchase a total of 195,694 shares on the open market.

According to Namsung on September 15, CEO Sung Ho Yoon and Executive Vice President Jong Ho Yoon plan to each acquire 97,847 shares. The total purchase amount is 1 billion won, with each acquiring 500 million won worth of shares. The trading period is scheduled from October 14 to November 12. The company explained that this decision to expand their holdings reflects management’s confidence in Namsung’s long-term growth potential and its commitment to enhancing shareholder value.

Upon completion of this transaction, CEO Sung Ho Yoon’s shareholding will increase from 627,902 shares to 725,749 shares, raising his stake from 13.77% to 15.92%. Executive Vice President Jong Ho Yoon’s shareholding will also increase from 614,802 shares to 712,649 shares, with his stake rising from 13.48% to 15.63%.

Namsung is accelerating its expansion of sales in the U.S. market by introducing new products. The automotive AI device ‘NS AI LINK’ is equipped with a 10.1-inch ultra-thin display and supports wireless Apple CarPlay, Android Auto, and smartphone mirroring. A key feature is that users can access generative AI and AI agents in their vehicles through their smartphones. The product is currently sold at approximately 3,600 Walmart stores across the U.S., with initial shipments valued at about 5 billion won in consumer terms.

The company plans to pursue additional supply based on sales performance and consumer feedback at Walmart, while also strengthening its presence on online channels such as Amazon and Walmart.com. In the medium and long term, Namsung aims to equip major automotive products in North America with communication features and to expand its business from a hardware-oriented structure to the AI device and platform sector through the ‘AI Gateway Control’ business, connecting devices with AI services.

A Namsung official stated, “This open market purchase decision demonstrates the management’s strong confidence in the company’s long-term growth potential,” adding, “We will broaden our sales base in the U.S. with new products and expand achievements in the mobility AI device and platform business, ultimately translating this into tangible improvements in shareholder value.”

This content was produced with the assistance of AI translation services.