[Public Notice+] KTB Network to Buy Back 3 Billion KRW Worth of Treasury Shares... Launching Shareholder-Friendly Management

On the Verge of Achieving Record-High Profits Last Year

[Asia Economy Reporter Minwoo Lee] KTB Network has decided to repurchase its own shares worth 3 billion KRW to enhance shareholder value.

On the 19th, KTB Network held a board meeting and announced that it resolved to acquire treasury shares worth 3 billion KRW. The company’s management judged that the stock price was significantly undervalued compared to the company’s value based on performance and investment portfolio, and intends to enhance stock value and demonstrate its commitment to shareholder-friendly management through the share repurchase.

This treasury share repurchase was decided within the limit of distributable profits based on the 2020 financial statements. The stock acquisition will be conducted through a trust contract with a securities firm.

KTB Network recorded a cumulative net profit of 63.1 billion KRW in the third quarter of last year. Following the previous year, it is on the verge of achieving the highest profit ever. The company plans to pursue a shareholder return policy commensurate with its performance every year.

Kim Chang-gyu, CEO of KTB Network, said, "We will strive to be properly recognized for our corporate value in the market through stable and steady growth," adding, "We will continuously implement shareholder return policies such as share repurchases and dividend increases to become a company that grows together with its shareholders."