GS Global said Wednesday its newly appointed CEO Kim Sung-won has purchased company shares on the open market, signaling confidence in the firm’s long-term growth prospects.
Kim acquired 40,000 shares shortly after the company’s annual general meeting on March 26, according to the company.
“The decision reflects my confidence in the company’s future growth,” Kim said, adding that he would continue efforts to enhance shareholder value and strengthen responsible management.
The company said the purchase sends a signal to the market about management’s belief in its medium- to long-term growth potential, noting that other executives and employees are also expected to participate in voluntary share purchases.
The move comes as GS Global reshapes its leadership structure. At the shareholders meeting, Kim was officially appointed as CEO, while Chief Financial Officer Kim Jae-sung was newly named an inside director. Non-executive director Kim Seok-hwan and outside director Wi Sung-ho were reappointed, and Shin Chang-dong joined the board as a new outside director, strengthening its expertise and independence.
GS Global posted consolidated revenue of 4.11 trillion won ($2.7 billion) and operating profit of 52.3 billion won last year, maintaining stable performance despite global trade restrictions and slowing economic growth.
However, with most of its revenue concentrated in trading and distribution, the company said diversifying its business portfolio and securing new growth engines remain key priorities.
For this year, GS Global has set a revenue target of around 4.6 trillion won, aiming to achieve both top-line expansion and improved profitability.
The company also reaffirmed its shareholder-friendly policies, announcing a cash dividend of 25 won per share to be paid on April 3.
Looking ahead, GS Global plans to move beyond its traditional trading-focused business model and transform into a “total solution provider,” offering integrated services that identify and address customer needs more proactively.
minmin@heraldcorp.com
