Smack CEO Choi Young-seop Acquires Additional Shares... "Commitment to Responsible Management"

[Asia Economy Reporter Jang Hyowon] Choi Youngseop, CEO of Smac, a specialized company in machine tools, industrial robots manufacturing, and information and communication equipment, announced on the 25th that he purchased 128,030 shares of the company's stock worth 150 million KRW through on-market buying. With this purchase, the total number of shares held by CEO Choi reached 504,812 shares.

CEO Choi stated, "We are continuously considering responsible management for our shareholders, and as promised during the previous stock repurchase, we have proceeded with additional on-market purchases," adding, "This year, we will achieve maximized performance by enhancing efficient management and various business capabilities."

Recently, Smac has been enhancing shareholder value and practicing responsible management through consecutive stock repurchases. Starting with a 1 billion KRW stock trust contract with Shinhan Financial Investment on the 27th of last month, CEO Choi Youngseop and major shareholders Lee Jiwoon and Lee Dawon have successively acquired company shares.

The company is also actively engaging in the cancellation of convertible bonds (CB). On the 20th, Smac canceled convertible bonds worth 700 million KRW, which were acquired before maturity to alleviate the burden of convertible bond volume. Smac plans to continue activities aimed at enhancing shareholder value and responsible management in the future.

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