Samsung Electronics Co. plans to buy back about 10 trillion won ($7.2 billion) of its own stock over the next year, putting in motion one of the larger shareholder return programs in its history.

The repurchase plan comes amid an ongoing drive by South Korea’s government and market regulators to boost the low valuations of the nation’s stocks. Samsung launched buybacks of 9.3 trillion won in 2017 and 11.3 trillion won in 2015. BLOOMBERG

Shares in Samsung Electronics extended declines to a fourth straight session on Wednesday, hitting their lowest level in more than four years.

The South Korean technology giant’s stock repurchase plan comes amid investor concerns over its flagship memory-chip business, which is missing out on the artificial intelligence boom.

In the buyback plan approved by the board of directors, a combined 3 trillion won of shares will be bought back within three months starting Monday and continuing until February 17.

Samsung Electronics has decided to buy back shares worth 10 trillion won ($7.17 billion) over a one-year period to boost shareholder value, after shares plunged to more than four-year lows earlier in the week.

Samsung Electronics (OTCPK:SSNLF) intends to buy back 10T won ($7.17B) worth of its shares over one year to bolster shareholder value, Reuters reported. The tech giant's stock soared about 7% on Friday on the South Korean exchange.