KRPN Co., Ltd. Acquires CEO's Shares... 'Strengthening Responsible Management Through Stable Control'

[Asia Economy Reporter Hyungsoo Park] The CEO of KRPN has acquired treasury shares to strengthen responsible management through the stabilization of management rights.

KRPN announced on the 23rd that CEO Shin Donghee acquired 430,000 treasury shares (0.35%).

CEO Shin acquired the shares to reinforce management rights. He was appointed as CEO of KRPN in 2018. Since then, he has led restructuring efforts and succeeded in producing the nation's first bio marine fuel.

A KRPN official stated, "The acquisition of treasury shares signifies confidence in corporate growth along with responsible management," adding, "Bio marine fuel recently completed factory expansion, and demand for eco-friendly marine fuel is increasing due to the introduction of IMO2020 regulations."

At the end of last year, KRPN succeeded in producing eco-friendly bio marine fuel using the independently developed Synthetic Triglyceride Process (SYN-TG process). In February, the company expanded its bio marine fuel production facilities. Through this, production capacity increased to approximately 30,000 tons per year, about five times the previous capacity.

The SYN-TG process developed by KRPN is a technology capable of producing high-viscosity biofuel, representing the only case that overcame the limitations of using biofuel as marine fuel. It has been recognized externally for its outstanding technological capabilities. This year, based on the expansion, the company is expected to demonstrate sales growth and profitability improvement through restructuring.

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