[Public Notice+] Seegene Surpasses 1 Trillion Market Cap with Diagnostic Reagent Supply, Announces First Cash Dividend

Cash Dividend of 100 Won Per Common Share Declared
Stock Price Surges Over 50% This Year Due to Diagnostic Reagent Supply

[Asia Economy Reporter Minwoo Lee] Seegene, which developed the diagnostic reagent for the novel coronavirus infection (COVID-19), will conduct its first cash dividend.

Seegene announced on the 9th through a public disclosure that it decided on a cash dividend of 100 KRW per common share as a year-end dividend. The total dividend amount is 2.6 billion KRW, and the dividend yield is 0.3%.

This is the first time Seegene has conducted a cash dividend. A Seegene official explained, "Although various investments are needed for future growth, we decided on the first dividend based on confidence in future performance growth," adding, "This is to consider shareholders who have long awaited Seegene’s growth and to respond to social demands encouraging dividends to activate investment."

Earlier, from mid-last month, Seegene began supplying COVID-19 diagnostic reagents after receiving emergency use authorization from the Ministry of Food and Drug Safety, which triggered a soaring stock price. Seegene’s COVID-19 diagnostic reagent, 'Allplex 2019-nCoV Assay,' also received emergency use authorization from the European Union (EU) and is currently receiving orders from over 30 countries worldwide. Thanks to this, Seegene’s stock price closed at 48,350 KRW on the KOSDAQ market on the 7th, hitting the daily price limit increase (29.97%). It has surged more than 50% since the beginning of this year. Its market capitalization also surpassed 1 trillion KRW, reaching 1.2684 trillion KRW.

Seegene plans to implement a more flexible pricing policy starting this year to promote the popularization of molecular diagnostics. This policy was already reflected in the COVID-19 response. Since last month, the company has mobilized all available resources to support the government’s COVID-19 response. It postponed the development and production of other diagnostic reagents and deployed a significant portion of R&D project personnel as testing support staff at diagnostic sites nationwide.

Jong-yoon Chun, CEO of Seegene, said, "The purpose of a company’s existence is not simply to generate profit but to make the society we live in a better place," adding, "Based on this belief, we will pursue sustainable development and grow into a model company." End.

This content was produced with the assistance of AI translation services.