[Edaily Reporter Yun Junghoon ] Jeong Jae-wook, CEO of Korea’s largest reading platform Millie Seojae(418470), has once again purchased company stock, demonstrating his strong commitment to “responsible management.” This additional purchase, made just three months after he took office, is seen as a move to convey his confidence in the company’s mid- to long-term growth potential to the market.

Milli’s Library announced on the 10th that CEO Jeong Jae-wook had purchased 5,000 shares of the company’s stock on the open market.

This is CEO Jeong’s second purchase of company stock, following the acquisition of 10,000 shares immediately after he took office last May. As a result, the total number of Milli’s Library shares held by CEO Jeong has increased to 15,000.

Industry observers are taking note of the fact that the CEO has made an additional purchase within a short period of time, following his initial purchase immediately after taking office. This is seen as reflecting management’s strong commitment to stabilizing the stock price, enhancing corporate value, and increasing shareholder value.

Milli’s Library traded at 23,000 won when it listed on KOSDAQ in 2023. It currently trades at 10,530 won, representing a decline of more than 50% from its initial public offering (IPO) price. Milli’s Library plans to continue strengthening its platform’s competitiveness by securing proprietary original IP (intellectual property) and diversifying its content. Additionally, the company plans to focus its efforts on laying the foundation for sustainable growth by establishing new revenue channels and identifying new growth drivers.

A representative from Millie’s Library stated, “This additional share purchase reaffirms CEO Jeong’s commitment to responsible management toward shareholders and customers.”