The Board of Directors of KL-Net Corp. (KOSE:A039420) authorized a share repurchase program on March 8, 2013. Under the program, the company will repurchase up to KRW 2 billion worth of its shares pursuant to a trust agreement with Shinhan Investment Corp.

The purpose of the program is to stabilize the stock price and to enhance the shareholders' value. The repurchases will commence from March 11, 2013 and will continue until March 10, 2014. As of March 7, 2013, the company has 358,997 shares under the direct ownership of treasury stock and 52,376 shares in treasury under the trust agreement.

Shinhan Investment Corp. acted as the broker to KL-Net.