SEOUL, Stock retirement by major listed companies in South Korea jumped more than 30 percent in 2023 from a year earlier, a corporate tracker said Wednesday. A total of 382 listed firms repurchased their own shares worth 8.4 trillion won (US$6.3 billion) last year, up 39 percent from a year earlier, according to CEO Score. Their cancellation of treasury shares was valued at 4.8 trillion won, 33.3 percent more than a year ago. Treasury shares refer to those bought back by issuing companies. Their cancellation normally benefits investors as it reduces the number of shares being circulated in the market. Major bank holding firm Shinhan Financial Group Co. posted the largest retirement of treasury shares with 386 billion won. In terms of stock disposal, including compensation for executives and business tie-ups, leading automaker Hyundai Motor Co. ranked first with slightly over 600 billion won. Major pharmaceutical company Celltrion Inc. was the biggest purchaser of its own shares in 2023 with 886 billion won, trailed by Meritz Financial Group Inc. with 671 billion won and KB Financial Group Inc. with 572 billion won. Meanwhile, the 2023 number of listed firms that bought their own shares was down from 436 the previous year, according to the data. Source: Yonhap News Agency