The Board of Directors of Seoul Auction Co., Ltd. (KOSE:A063170) authorized a share repurchase program on June 13, 2012. Under the program, the company will repurchase up to KRW 500 million worth of own shares pursuant to a trust agreement with Dongbu Securities Co., Ltd. The purpose behind the program is to stabilize the stock price Repurchases will commence on June 13, 2012 and will continue until December 12, 2012. As of June 12, 2012, the company has 610,212 shares under the direct ownership of treasury stock and 137,259 shares as treasury stock under trust agreement. Woori Investment & Securities Co., Ltd. acted as the broker for the company.