YONHAP reports Samsung Electronics is set to carry out a share repurchase of nearly KRW 90 trillion (~$59 billion).
Shares of Samsung Electronics jumped 6% on the news.
Under a labor-management agreement, a special performance bonus will be paid in company stock (treasury shares), and Samsung needs to repurchase shares to cover a shortfall beyond current treasury holdings.
The company is expected to announce implementation details shortly.
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