Samsung, SK to Cancel $14 Billion Treasury Shares in Reform Push
The Kospi’s rally has been driven in part by expectations that companies will follow through on governance changes.
Photographer: SeongJoon Cho/BloombergSamsung Electronics Co. and SK Inc. said they plan to cancel a combined 20.8 trillion won ($14.1 billion) of treasury shares, one of the largest such moves by South Korean conglomerates as firms respond to governance reforms aimed at boosting shareholder returns.
The cancellations highlight a broader push to improve corporate governance and narrow the so-called ‘Korea discount’ — the persistent valuation gap between local equities and global peers — typically linked to corporate governance issues.