[Public Notice+] Choi Youngseop, CEO of SMAC, Buys Treasury Shares to Enhance Shareholder Value

[Asia Economy Reporter Jang Hyowon] Choi Youngseop, CEO of Smac, a specialized company in machine tools, industrial robot manufacturing, and information and communication equipment, announced that he purchased treasury shares to enhance shareholder value.

On the 6th, Smac disclosed that CEO Choi Youngseop purchased 55,078 treasury shares worth 100 million KRW through on-market transactions. With this purchase, the total number of shares held by CEO Choi Youngseop reached 376,782 shares.

Recently, Smac has shown a commitment to enhancing shareholder value and responsible management. On the 27th, the company signed a treasury share trust contract worth 1 billion KRW with Shinhan Financial Investment. CEO Choi Youngseop’s recent purchase of treasury shares further demonstrates confidence in the company’s growth potential.

CEO Choi Youngseop of Smac stated, “To increase shareholder value and firmly demonstrate our commitment to responsible management, we decided not only to enter into a treasury share trust contract but also to directly purchase treasury shares. This year, we will strive to achieve excellent results not only in machine tools but also in various businesses such as smart factories, ICT, and convergence technology.”

He added, “The recent decline in stock price is excessive compared to the company’s value and growth potential. We will actively respond by purchasing additional shares to enhance shareholder value and ensure responsible management.”

Meanwhile, Smac has recently attracted attention by integrating augmented reality technology into machine tools. Starting in the second half of the year, the company plans to introduce this technology into its smart factory business, raising expectations for its convergence business division.