Joyworks & Co. (CEO Cho Sunghwan) announced on December 15 that its CEO and key executives have acquired company shares to stabilize the stock price and strengthen responsible management.
The company explained that this decision reflects the management’s confidence in Joyworks & Co.'s mid- to long-term growth prospects, and added that further share purchases may be considered depending on market conditions.
According to Joyworks & Co., CEO Cho Sunghwan, Vice President Lee Moonki, and other key executives participated in this share acquisition, purchasing a total of 406,315 shares on the open market.
A company representative stated, “The management highly values the company’s intrinsic worth and growth potential, and believes that the current stock price does not fully reflect this. As part of responsible management, the decision was made to acquire company shares.”
On October 1, Joyworks & Co. officially took over the domestic offline retail business of the global running brand Hoka. In the first month after the transfer, sales increased by approximately 19% compared to the previous month, and cumulative sales from January to October this year grew by about 34% year-on-year, clearly demonstrating an improving performance trend.
With the stable establishment of new businesses and the expansion of its product lineup, the company’s growth momentum continues to strengthen. Joyworks & Co. is also reviewing the possibility of further business expansion, such as operating new brands within the running category.
A company representative commented, “The management’s acquisition of company shares demonstrates confidence in executing our mid- to long-term strategy. We will further solidify the foundation for enhancing corporate value and strengthening the trust of the market and our shareholders.”
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