Hanssem to Buy Back 30 Billion KRW Worth of Treasury Shares to Enhance Shareholder Value

[Asia Economy Reporter Lee Jung-yoon] Hanssem announced on the 7th that it has decided to repurchase its own shares to defend against a stock price decline following the COVID-19 pandemic.

According to the disclosure, the planned repurchase involves a total of 551,470 common shares, amounting to approximately 30 billion KRW.

The expected repurchase period is from the 8th to July 6th.

Hanssem explained, "We judged that our stock price was excessively undervalued compared to the corporate value due to concerns over a global economic downturn caused by the COVID-19 impact," and added, "We made this decision to enhance shareholder value."