Samsung, SK to Cancel $14 Billion Treasury Shares in Reform Push

Samsung Electronics Co. and SK Inc. said they plan to cancel a combined 20.8 trillion won ($14.1 billion) of treasury shares, one of the largest such moves by South Korean...

By Shinhye Kang, Denny Thomas · Bloomberg Markets

Samsung Electronics Co. and SK Inc. said they plan to cancel a combined 20.8 trillion won ($14.1 billion) of treasury shares, one of the largest such moves by South Korean conglomerates as firms respond to governance reforms aimed at boosting shareholder returns.