The South Korean technology leader's stock climbed over 7% in Seoul, building on a 7.21% rise from Friday, which was driven by news of a preliminary agreement with its largest labor union that had previously gone on strike in July.
According to data from LSEG, Samsung last engaged in a share buyback in November 2017.
In a regulatory announcement, the company disclosed that it plans to repurchase 3 trillion won worth of shares within the next three months, which will be subsequently canceled. The repurchase of the remaining 7 trillion won will be subject to approval by the Board, which will determine strategies to enhance shareholder value, including the timing and method of utilizing the treasury shares.
On November 15, Samsung's shares reached a four-year low following disappointing profit forecasts for the third quarter and concerns regarding tariffs after Donald Trump was elected President of the United States.
The company has lagged behind competitor SK Hynix in the race to provide high bandwidth memory (HBM) chips, essential components for AI leader Nvidia. Analysts have indicated to CNBC that Samsung has struggled to keep pace with SK Hynix in the HBM development timeline.
HBM is a form of dynamic random access memory (DRAM), commonly utilized in laptops, workstations, and personal computers.
Reports from South Korean media suggest that SK Hynix became the first chip manufacturer globally to deliver fifth-generation HBM3E chips to Nvidia in March.