SG Decides to Buy Back 10 Billion Won of Treasury Shares... "Enhancing Shareholder Value"

[Asia Economy Reporter Park Jihwan] SG, a company specializing in eco-friendly asphalt concrete (Ascon), announced on the 3rd that it will proceed with a 10 billion KRW scale share repurchase to stabilize its stock price and enhance shareholder value. The contract period is from the 2nd to September 2nd.

An SG representative stated, "We believe that the value of SG, which is emerging as a specialist in eco-friendly Ascon, does not currently meet the stock price expectations of our shareholders," and added, "We decided to repurchase shares to give back to the shareholders who support SG."

With the participation of mid-sized and large companies in the 'Ascon' industry becoming possible from this year, SG announced a management strategy focusing its core competencies on the 'Ascon' business. In fact, the company has recently acquired and directly operates Ascon companies located in Sejong City, Chungcheongnam-do, and Anseong, Gyeonggi-do, strategically expanding its business areas. It plans to aggressively acquire Ascon companies in key regional bases within this year.

A company official said, "We plan to accelerate the commercialization of EcoSteelAscon, a premium new product of Ascon, starting this year," and added, "As the grace period for installing eco-friendly facilities in Ascon ended on December 31st last year, we will actively distribute SGR+, an eco-friendly facility, to Ascon factories nationwide, laying the foundation for sustainable growth."

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