Woojin B&G Largest Shareholder Acquires 1 Billion Won Stake... Strengthens Responsible Management With Jaegu Kang as Sole CEO

Woojin B&G, a company specializing in veterinary pharmaceuticals, is strengthening responsible management through the acquisition of shares by the largest shareholder and a restructuring of its management system.

Woojin B&G announced that CEO Sukjin Kang and CEO Jaegu Kang will each purchase 161,000 shares of the company, worth 500 million won each, through on-market transactions. The planned transactions will begin on July 9 and continue until July 31.

The total purchase amount will be 1 billion won. If all transactions are completed, the equity stake held by the largest shareholder and related parties will rise from the current 25.25% to 30.82%, an increase of 5.57 percentage points.

The company explained that the expansion of shareholding is intended to enhance shareholder value and demonstrate a commitment to responsible management. It was also revealed that the decision reflects the view that the company's stock price is not fully reflecting its fundamental value and growth potential.

A Woojin B&G official stated, "The largest shareholder's direct share purchase demonstrates a commitment to responsible management regarding stock price stability and reflects confidence in future performance improvement and growth."

In addition, the company is pursuing a restructuring of its governance structure to improve management efficiency. Woojin B&G will shift from a co-CEO system to a sole CEO system under Jaegu Kang, with the aim of accelerating decision-making and increasing management focus.

Going forward, CEO Jaegu Kang plans to concentrate on expanding into overseas markets. Woojin B&G is broadening its client base beyond the existing Vietnam market to other high-growth potential regions, such as Southeast Asia, the Middle East, and the Commonwealth of Independent States (CIS).

In particular, as the company is on track to obtain global certification for its high-value-added animal vaccines and pharmaceuticals, expectations are rising that this year will mark the beginning of a full-fledged growth phase for overseas exports.

Industry experts believe that the increase in the largest shareholder's stake and the transition to a sole CEO system will have a positive impact on the company's value.

An industry representative commented, "Securing stable control and unifying leadership sends a positive signal both internally and externally. If the results of strengthened responsible management and overseas market diversification become tangible, the possibility of a corporate value re-rating will also increase."

With the active share purchases by the largest shareholder and the launch of the sole CEO system, Woojin B&G is simultaneously pursuing the dual goals of strengthening responsible management and expanding in global markets to secure new growth engines.

This content was produced with the assistance of AI translation services.