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전체검색영역
Samsung Elec Chairman Kwon sells 800 stk holding to become $2mn rich
Collected
2017.12.21
Distributed
2017.12.22
Source
Go Direct
Samsung Electronics Co.’s outgoing vice chairman Kwon Oh-hyun who had been promoted as the top chief Samsung Advanced Institute of Technology last month sold 800 additional common shares of Samsung Electronics and became $2 million rich.

According to disclosure that requires large volume in stock trade and changes in shareholders, Kwon sold 400 shares at 2.6 million won ($2,408) apiece during the trading hours on Monday and another 400 shares at 2,542,605 won apiece on the following day. The total disposal value amounted to around 2.06 billion won.

Kwon who also sold 1,300 shares at 1.3 million won each in December 2015 now only holds 500 shares in Samsung Electronics.

His massive disposal of Samsung Electronics’ shares comes after he was promoted to chairman of Samsung Advanced Institute of Technology in November during the company’s latest leadership reshuffle that also appointed new division heads - Kim Ki-nam of device solutions, Koh Dong-jin of information and technology (IT), and Kim Hyun-suk of mobile communications and consumer electronics.

Born in 1952, Kwon joined Samsung in 1985 as a researcher at the company’s semiconductor research center in the U.S., and has served as vice chairman and chief executive of Samsung Electronics and Samsung Display since 2012. In October, he surprised the market and the industry with an abrupt resignation announcement on the same day the company reported a record-high quarterly profit for the third quarter ended September. Instead of leaving the company as he initially planned, he now spearheads the company’s research arm.

As of 2:31 p.m. on Thursday, shares of Samsung Electronics fell 3.11 percent to 2,465,000 won in Seoul trading.

By Moon Il-ho and Choi Mira

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