Hana Financial Group Chair Ham Young-joo recently bought 5,000 shares of his company’s stock, highlighting a commitment to responsible business management and the intention to bolster shareholder value, Hana Financial Group said Tuesday.

According to the company’s regulatory filing, Ham spent about 294 million won ($200,000) on Friday, purchasing 1,895 shares at a price of 58,800 won and 3,105 shares at 58,900 won.

Hana Financial Group underlined that the stock purchase by the company’s head was conducted to ensure the firm’s corporate value-up plan can lead to a noticeable increase in shareholder value at a time when the firm’s stock price is undervalued due to increasing uncertainties.

Other key executives at Hana Financial Group also joined Ham’s initiative. On top of Ham’s 5,000 purchased shares, seven high-ranking officials bought a total of 4,350 shares earlier in December. The collective action was to show Hana Financial Group executives’ strong confidence in the company’s long-term growth and willingness to increase the stock price.

“Through this stock purchase, we aim to strengthen the execution of our value-up plan and further bolster communication with our shareholders,” said Ham.

“We will continue to make efforts to establish Hana Financial Group as a leading example of value-up stocks in the financial sector.”

Hana Financial announced a corporate value-up plan in October with a goal to bring up shareholder returns to 50 percent by 2027 through improved earnings and larger dividends.