W&I Acquires Additional Shares on Market Including Major Shareholders... "Considering Further Stock Purchases"

[Asia Economy Reporter Hyunseok Yoo] WI, a character and brand licensing specialist company, announced on the 24th that its largest shareholder, CEO Byeon Ikseong, has additionally purchased 100,600 shares through on-market purchases from December last year to this month. Including the shares purchased on-market by Shin Eunsook, a related party, the largest shareholder and related parties have secured an additional total of 145,600 shares.

CEO Byeon Ikseong plans to enhance shareholder value through the additional acquisition of shares and actively promote new businesses such as the IP licensing business and bio businesses related to gene therapy and cryoprotectants.

WI has been conducting an IP licensing business utilizing famous characters and brands since its merger with With Mobile in February last year. With strong sales of ‘Kakao Friends’ IP products, last year’s revenue recorded 24 billion KRW, a 24.8% increase compared to the previous year, and operating profit turned positive, achieving a performance turnaround.

Along with the strong sales of ‘Kakao Friends’ IP products, the sales of ‘Pengsoo’ mobile accessory products sold through the online store ‘With Shop’ since this month have continued to sell out, raising expectations for performance growth this year.

CEO Byeon said, “Due to the impact of the COVID-19 virus, the stock price was judged to have fallen excessively compared to the company’s growth potential, so I proceeded with additional share purchases,” and added, “The management, including the largest shareholder, is considering additional share purchases depending on market conditions, expressing their commitment to responsible management, stock price support, and enhancing shareholder value through stock purchases.”

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