Settings

ⓕ font-size

  • -2
  • -1
  • 0
  • +1
  • +2

Financial CEOs head for IR roadshows

  • Facebook share button
  • Twitter share button
  • Kakao share button
  • Mail share button
  • Link share button
Shinhan Financial Group Chairman Cho Yong-byoung
Shinhan Financial Group Chairman Cho Yong-byoung
By Jhoo Dong-chan

Major financial group heads are set to conduct investor relations (IR) meetings abroad next month to provide investors with an accurate account of their company affairs and attract further investment to boost their share sluggish prices on the Seoul bourse.

According to KB Financial Group, the second largest by net profit, Chairman Yoon Jong-kyoo will visit Hong Kong to head the company's first overseas IR meeting next month.

Thanks to it being the densest financial cluster in Asia, Hong Kong has been the most popular destination for company CEOs who want to attract global institutional investors.

KB Financial Group Chairman Yoon Jong-kyoo
KB Financial Group Chairman Yoon Jong-kyoo
Reflecting the city's importance, Yoon has visited Hong Kong every year.

After Hong Kong, the chairman is expected to visit Australia, which has one of the most advanced pension-fund countries in the world, next month.

"Chairman Yoon is scheduled to visit Hong Kong and Australia next month, but the decision has yet to be fully confirmed. First things first. We have a general shareholders' meeting at the end of this month," said a KB Financial Group official.

"If the meeting is concluded without any radical decisions, he will go on the tour as planned."

Woori Financial Group Chairman Sohn Tae-seung
Woori Financial Group Chairman Sohn Tae-seung
Shinhan Financial Group Chairman Cho Young-Byoung, who was the most active financial group head last year visiting Dubai, Malaysia, Singapore, Hong Kong and Australia, is likely to visit North America soon to conduct IR meetings. He is also reviewing a plan to visit Europe to meet global investors.

Woori Financial Group Chairman Sohn Tae-seung, who visited the U.K. and Sweden last year, is expected to visit Europe once again to meet major investors there. North America is also one of his possible tour destinations.

Hana Financial Group Chairman Kim Jung-tai is also likely to carry out IR meetings abroad after the group's general shareholders' meeting this month.

Market observers say weak share prices are the reason behind group chairmen's IR tour, citing these are one of the most important criteria in evaluating their performance as CEO.
Hana Financial Group Chairman Kim Jung-tai
Hana Financial Group Chairman Kim Jung-tai

"Despite record high earnings last year, share prices of the nation's major financial groups are still underrated," said a Mirae Asset Daewoo researcher.

"Their prices are just too low at the moment."

According to the Korea Exchange, the share price of KB Financial Group closed at 44,100 won ($38.95), March 28, a huge contrast to the end of last year when it reached nearly 50,000 won.

In order to rally its price, KB executives bought back shares ― Chairman Yoon and KB Kookmin Bank CEO Hur Yin bought back 1,000 shares and 3,062 shares, respectively, earlier this month.


Jhoo Dong-chan jhoo@koreatimes.co.kr


X
CLOSE

Top 10 Stories

go top LETTER