KG Mobility Platform Executives Purchase 63,000 Company Shares: "Strengthening Responsible Management"

[Financial News] The executives of KG Mobility Platform, which operates K Car, have moved to strengthen responsible management by purchasing approximately KRW 400 million worth of company shares. Since joining KG Group, the CEO and executives overseeing key business divisions have bought shares together, signaling their confidence in the company's value. The company plans to enhance the competitiveness of its existing used-car sales, rental-car and auction businesses and translate that into stronger management performance.
KG Mobility Platform announced on the 17th that four executives, including CEO Jeong In-guk, had purchased a total of 63,000 company shares on the open market.
CEO Jeong purchased 40,000 shares, while Park Ji-won, head of the Rental Car Business Division, and Jeon Ho-il, head of the Marketing Division, each bought 10,000 shares. Hwang Jae-hyeok, head of the Auction Business Division, purchased 3,000 shares. The total purchase amount was approximately KRW 400 million.
The purchases were based on the executives' confidence in the company's mid- to long-term growth prospects and corporate value. By personally holding company shares, the executives intend to align their interests with those of shareholders and practice responsible management. CEO Jeong also purchased 10,000 company shares in 2022 for approximately KRW 250 million.
KG Mobility Platform was newly launched as a KG Group affiliate on August 31. The company plans to combine its expertise in the directly operated used-car business with synergies from the group to strengthen its major businesses, including used-car purchases and sales, rental cars and auctions.
K Car operates a direct-sales model in which it purchases vehicles itself, diagnoses and manages them, and then sells them. As of this month, it has a nationwide network of 48 directly operated locations and offers an online purchasing service called the "Home Delivery Car Purchase Service." Last year, it launched the vehicle management service "My Car," expanding beyond vehicle purchases and sales to provide information throughout the vehicle life cycle.
CEO Jeong said, "This share purchase demonstrates through action the executives' confidence in the company's growth prospects and corporate value. We will continue to do our utmost to strengthen our core business competitiveness, generate stable management results, and enhance corporate and shareholder value."
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