[Company] Hyundai Motor buys 1 trillion won worth of treasury stocks...Increasing corporate value

Hyundai Motor has decided to purchase treasury stocks worth 1 trillion won to enhance corporate value through shareholder return.

Hyundai Motor held a board meeting and voted to purchase 4.666 million shares, or 1.7% of all issued shares, for 1 trillion won.

Earlier, Hyundai Motor announced its plan to boost corporate value by buying back 4 trillion won worth of its own shares over the next three years.

Buying treasury stocks also benefits shareholders by reducing the number of shares circulated on the market and increasing earnings per share.