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Samsung Electronics reportedly to launch a stock buyback of nearly 900 trillion won
On June 24, according to Yonhap News Agency, Samsung Electronics is preparing to launch a large-scale stock buyback totaling nearly 900 trillion won (about $590 billion). Under an agreement reached between labor and management, since both sides have agreed to distribute special operating performance bonuses in the form of the company’s own stock (treasury shares), the company therefore needs to conduct a large-scale buyback to make up for the shortfall that exceeds the portion covered by currently held treasury shares. The specific implementation plan is expected to be announced soon.