Hoban Group Executives Sequentially Acquire Shares of Daehan Electric Wire

Following Vice Chairman Song Jong-min Last Month, Chairman Kim Seon-gyu Purchases 10,000 Shares

Key executives of Hoban Group have consecutively purchased shares of Daehan Cable.

Daehan Cable announced on the 23rd that Kim Seon-gyu, Chairman of Hoban Group, purchased 10,000 shares of Daehan Cable.

Daehan Electric Wire

Earlier last month, Song Jong-min, Vice Chairman of Daehan Cable and concurrently Vice Chairman of Hoban Industrial, the CEO of Daehan Cable, purchased 10,000 treasury shares. Through this stock purchase, they plan to fully participate in the ongoing rights offering.

Daehan Cable is promoting a rights offering worth 528 billion KRW to invest in its new growth engine, the submarine cable business, and to secure overseas production facilities in the United States and other countries. Hoban Industrial, the largest shareholder of Daehan Cable, confirmed a subscription of up to 120%, the maximum limit for oversubscription of the rights offering allocation, through a board resolution on the 10th.

Vice Chairman Song said, "This reflects strong confidence in the success of new businesses such as submarine cables and a determination to increase corporate value. Through responsible management, we will strengthen the company's competitiveness and actively expand new businesses to enhance corporate value and shareholder value."

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