LOTTE Chemical Management Buys 440 Million KRW Worth of Company Stocks

█ A total of 16 CEO and president-level executives including Vice Chairman Kim Gyo-hyun, Basic Materials President Hwang Jin-koo,

    and Advanced Materials President Lee Young-joon acquires a total of 2,760 shares on the 14th (Fri)...

    Reinforcing responsible management to restore trust among stockholders and stakeholders

█ At the ‘2022 CEO IR Day’ in March of this year, announced to give interim dividends for the next 3 years,

    purchase 300 billion KRW of treasury stocks, executives to purchase company stocks, and a variety of other policies for shareholder returns

█ LOTTE Chemical acquired about 50 billion KRW worth of treasury stocks in August and October...

    Plans to purchase 300 billion KRW over next three years until 2024

█ Vice Chairman Kim Gyo-hyun, “We will focus our capacities on battery materials business capacities and preoccupy the hydrogen market

    to construct a basis for future growth and actively enter high-value materials businesses and thereby restore firm trust among

    stockholders and stakeholders while enhancing corporate value” 

A total of 16 executives including LOTTE Chemical Vice Chairman Kim Gyo-hyun, Basic Materials President Hwang Jin-koo, and Advanced Materials President Lee Young-joon acquired a total of 2,760 company stocks. The average cost of the stocks at the time of purchase was around 161,000 KRW for a total of about 440 million KRW. 

LOTTE Chemical announced in the ‘2022 CEO IR Day’ back in March that it would engage in various stockholder return policies and then purchased approximately 50 billion KRW worth of treasury stocks in August and October, and that management purchased additional treasury stocks to strengthen responsible management and improve stockholder value.

Vice Chairman Kim Gyo-hyun said, “There are growing uncertainties due to cost pressures because of rising international oil prices and slowing demand for petrochemical products, but we will focus our capacities on battery materials business capacities and preoccupy the hydrogen market to construct a basis for future growth and actively enter high-value materials businesses and thereby restore firm trust among stockholders and stakeholders while enhancing corporate value."

With this purchase of company stocks, Vice Chairman Kim Gyo-hyun now possesses a total of 640 shares, and the cost of acquisition is 101,687,000 KRW.

LOTTE Chemical plans to present stockholder return policies for the next three years to strengthen trust for stockholders and the market.