Why the CEO of WSI is Buying Company Shares

[Asia Economy Reporter Jang Hyowon] Park Jeongseop, CEO of DoubleWSI (WSI), has purchased company shares. This move is interpreted as a sign of entering an undervalued range due to the recent stock price decline and a commitment to continue responsible management in the future.

According to the Financial Supervisory Service's electronic disclosure on the 10th, Park Jeongseop, CEO of DoubleWSI, and related parties additionally purchased a total of 58,330 shares through on-market transactions from the 2nd to the 7th. The acquisition price ranged between 1,790 and 1,860 KRW per share. The total shares held by CEO Park and related parties now amount to 21,003,937 shares (69.95%).

Founded in 2016, DoubleWSI operates in the wholesale and retail business of pharmaceuticals and medical devices, including hemostatic agents related to spinal joint surgery. According to IBK Investment & Securities, DoubleWSI's expected consolidated sales and operating profit for this year are projected to increase by 8.7% and 2.2%, respectively, reaching 30.2 billion KRW and 6.1 billion KRW.

A DoubleWSI representative stated, "As management, this expresses confidence in the company's growth and a commitment to responsible management," adding, "Another major reason for deciding to purchase shares is that the current stock price is excessively undervalued considering the stable financial structure and growth potential."

They continued, "Based on core competitiveness and stable performance in the pharmaceutical and medical device distribution sector, we are actively exploring new growth engines such as surgical robots," and "We will consider various measures, including strengthening shareholder return policies, to enhance corporate value."

Meanwhile, DoubleWSI is accelerating its entry into new businesses through its subsidiary EasyMediBot. EasyMediBot is developing surgical robots applicable to obstetrics and gynecology laparoscopic surgeries. In July, it signed a partnership with Neofect, a company specializing in rehabilitation medical devices and medical solutions, to develop and commercialize surgical robots for obstetrics and gynecology laparoscopic surgeries.

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