Woojin Decides to Buy Back Company Shares Worth 1 Billion Won

[Asia Economy Reporter Eunmo Koo] Woojin announced on the 13th that it has signed a trust contract with KB Securities for the acquisition of treasury shares. The contract period is six months. The purchase is expected to be around 1 billion KRW, which is about 1.5% of the total issued shares.

A company official explained, "To enhance shareholder value, we decided to resume dividends this year and proceed with the acquisition of treasury shares," adding, "Due to the recent sharp decline in the stock market caused by the novel coronavirus (COVID-19) impact, the company has taken steps to stabilize the stock price." He also added, "We plan to continue implementing measures to increase shareholder value."

Woojin is a precision measuring instrument specialist company that supplies measuring instruments and automation equipment to various industries including nuclear power plants. This year, with the start of parts supply for Shin-Kori Units 5 and 6, new sales are expected from the nuclear power plants under construction.

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