Kim Tae-han, chairman of the Samsung Biologics’ board of directors, is drawing attention because of his back-to-back sales of the company stocks.

According to a public filing by Samsung Biologics, Chairman Kim sold 2,460 and 940 shares in the market last Wednesday and Thursday. As a result, his selling price was 813,632 won ($640) and 824,245 won, respectively.

In two days, he sold 3,400 shares worth 2.78 billion won.

Kim sold his company stocks on two occasions in November. According to the public disclosure, Kim sold 3,000 and 2,000 shares on Nov. 10 and 11. The selling price was 897,744 won, and 898,465 won. The combined sales amounted to 4.49 billion won.

Due to successive stock selling, Kim’s shares, which stood at 12,600 in June 2022, fell to one-third of the initial 4,200 shares in just a half-year. His equity stake also dropped from 0.02 percent to 0.01 percent. Market watchers said Kim appeared set to dispose of company stocks. Kim has led the company for nearly nine years since he took the first CEO post upon its launch in 2011.

He was investigated for the suspected window-dressing of Samsung Biologics in 2019. In addition, he is still suspected of destroying evidence related to accounting fraud and embezzlement.

Kim stepped down from the CEO post in December and has since served as the board of directors’ chairman.