Daewoong Invests 20 Billion KRW in Repurchasing Its Own Shares and Daewoong Pharmaceutical Stocks

Daewoong announced on the 27th that it will proceed with the purchase of its own shares and shares of its subsidiary, Daewoong Pharmaceutical, totaling 20 billion KRW to realize responsible management and enhance shareholder value.

Daewoong Pharmaceutical Headquarters Exterior [Photo by Daewoong Pharmaceutical]

This purchase will be conducted through a trust method involving the acquisition of 10 billion KRW worth of treasury shares via KB Securities, and the direct purchase of 10 billion KRW worth of Daewoong Pharmaceutical shares on the market over three months starting next month.

A Daewoong official stated, "Despite having clear growth momentum, we made this decision to boost the undervalued stock price and express our commitment to future growth," adding, "Furthermore, as a holding company, we will take the lead in restoring shareholder trust by strengthening responsible management."

Yoon Jae-chun, CEO of Daewoong, said, “The total stock purchase of 20 billion KRW was a decision made possible by Daewoong Group’s stable and sound financial condition,” and added, “Going forward, Daewoong promises to firmly maintain shareholders’ trust by prioritizing maximizing shareholder value, actively implementing shareholder-friendly policies to protect shareholder rights, and pioneering the future together.”

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