Vice Chairman Song Jong-min of Daehan Electric Wire Purchases 10,000 Warrants for Responsible Management

Participation in Company Capital Increase with 15,000 Shares

Song Jong-min, Vice Chairman and CEO of Daehan Electric Wire, announced on the 26th that he has additionally purchased 10,000 subscription warrants of the company. This is to demonstrate his commitment to responsible management as the top executive and to express confidence in the company's growth potential.

Vice Chairman Song will participate in the paid-in capital increase with a total of 15,000 shares, including 5,000 new shares allocated to the 10,000 shares he previously held. Daehan Electric Wire is currently promoting a paid-in capital increase worth approximately 480 billion KRW to invest in its new growth engine, the submarine cable business, and to secure overseas production facilities in the U.S. and other countries.

Vice Chairman Song said, "I have additionally purchased subscription warrants with confidence in the success of new businesses such as submarine cables, which the company is actively pursuing, and with the determination to increase corporate value." He added, "Through responsible management, I will enhance the company's competitiveness and actively expand the business to increase corporate and shareholder value."

Meanwhile, Hoban Industries, the largest shareholder of Daehan Electric Wire, confirmed a subscription of up to 120%, the maximum limit for oversubscription of allocated shares, through a board resolution last month. Since then, key executives including Kim Sun-kyu, Chairman of Hoban Group, have expressed their intention to participate in the capital increase by purchasing treasury shares.

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