Share buybacks, what comes next
Even with the same share buyback, the outcome depends on whether it leads to actual shareholder value in the next stage
Corporate share buyback execution
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US-style path
Canceling the repurchased shares
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Actual reduction in the number of outstanding shares
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Increase in earnings per share (EPS) and ROE
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Korean-style path (practice before amendment)
Keeping shares as treasury stock without cancellation
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Revival of voting rights when sold to friendly stakes
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Used as a means of defending management rights, no change in shareholder value
February 25, 2026, 3rd Commercial Act amendment passed by the National Assembly: Principle of canceling treasury shares within 1 year of acquisition, with a maximum fine of 50 million won for violations