HWASEUNG Industries Co.,Ltd. announces an Equity Buyback for KRW 5,000 million worth of its shares.
January 18, 2021 at 07:50 am
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HWASEUNG Industries Co.,Ltd. (KOSE:A006060) announces a share repurchase program. Under the program, the company will repurchase up to KRW 5,000 million worth of its shares pursuant to a trust contract with NH Investment & Securities Co., Ltd. The purpose of the share repurchase program is to stabilize the stock price and enhance shareholder value. The repurchase program will continue until July 19, 2021. As of January 17, 2021, the company had 2,071,532 shares in treasury within scope available for dividend and had no shares in treasury through other repurchase.
HWASEUNG Industries Co.,Ltd is a Korea-based company principally engaged in the manufacture and distribution of footwear. The Company operates in three segments: film segment, footwear segment and distribution segment. The film segment provides biaxially oriented polypropylene (BOPP) films, polyester films, breathable films, metalized films, synthetic paper films, as well as polyethylene terephthalate (PET) films under the brand name Hi-Phane and others, which are used as packaging materials. The footwear segment is engaged in the provision of original equipment manufacturing (OEM) products for ADIDAS and REEBOK, and footwear related products. The distribution segment is engaged in the distribution of chemicals and industrial goods. The Company supplies its products within domestic market and to overseas markets.
HWASEUNG INDUSTRIES CO.,LTD. 
