HiSonic, President Park Yongjik Buys Shares... "Strengthening Responsible Management and Shareholder Return Policy"

Hisonic, which is ramping up its secondary battery business this year, has embarked on responsible management and enhancing shareholder value.

On the 2nd, Hisonic announced that it will strengthen its shareholder return policy through stock purchases centered on its management team.

Hisonic disclosed on the 31st that Yongjik Park, the Chief Executive Officer, purchased 10,000 shares. This is interpreted as CEO Park’s first shareholder-friendly move since being appointed as the head of business, as part of responsible management to enhance shareholder value.

Hisonic plans to reinforce its growth commitment and responsible management through additional stock purchases by the management team. The company is also reviewing additional shareholder-friendly policies that can enhance shareholder and corporate value at the company level.

Yongjik Park, CEO of Hisonic, stated, “Despite the challenging business environment due to the global economic slowdown, as orders for the core business of smartphone camera module IRCF are gaining momentum, we plan to focus on securing smartphone orders while expanding our portfolio into high value-added areas such as security and automotive. The secondary battery parts business, which is being promoted as a new growth engine, will achieve visible results sequentially through the establishment of a U.S. subsidiary, factory construction, and order acquisition.”

He added, “As we are constantly striving for the company’s sustainable growth potential and future value expansion, we, as key management members, have decided to strengthen the shareholder return policy to firmly convey the management’s strong will to our shareholders. We will expand responsible management to grow further as a trusted company.”

Hisonic plans to increase corporate value by entering the global secondary battery parts market this year. Starting with registration as a vendor for global top-tier battery manufacturer Envision AESC, the company has laid the groundwork for the secondary battery business through recruitment of experts, development of secondary battery parts for AESC, and establishment of a local U.S. subsidiary. With the secondary battery business accelerating since early this year, external growth is expected.

A company official said, “We completed structural improvements for a rebound this year, including downsizing the VCM AF actuator business last year and reflecting evaluation losses. We will focus on enhancing corporate value by continuously strengthening existing businesses and discovering future growth engines.”