LG CNS disclosed Tuesday that CEO Hyun Shin-gyun purchased 2,500 shares of the company's stock on the open market. The purchase was valued at approximately 150 million won ($110,000).
The move is interpreted as Hyun signaling his commitment to responsible management as LG CNS shares have been sluggish recently. The stock approached 90,000 won in June this year but has recently hovered in the 50,000 won range.
"CEO Hyun's share purchase demonstrates his commitment to responsible management and enhancing shareholder value," an LG CNS official said. "We will strive to increase corporate value through business performance and shareholder-friendly policies."