Daedong Metal Decides on KRW 1 Billion Treasury Stock Acquisition and Retirement

Board Resolution and Disclosure on June 11
Initiative to Enhance Shareholder Value

Daedong Metal, a specialized casting parts manufacturer under the Daedong Group, announced on June 11 that it has decided, through a board resolution, to enter into a KRW 1 billion treasury stock acquisition trust agreement.

The company explained that this treasury stock acquisition trust agreement is being pursued as part of efforts to enhance corporate value and practice responsible management. The contract period runs from June 11 to December 10, 2026. After the agreement is signed, treasury shares will be acquired through on-market purchases via the trust institution.

Daedong Metal plans to retire all of the treasury shares acquired through this trust agreement upon completion of the acquisition. Through this process, the company expects to reduce the number of shares in circulation and deliver tangible shareholder returns by increasing per-share value. The size of this trust agreement, KRW 1 billion, represents approximately 5% of the total shares outstanding based on the closing price as of the day before the board resolution.

Lee Poong-woo, CEO of Daedong Metal, stated, "This decision to enter into a KRW 1 billion treasury stock acquisition trust agreement and retire all acquired shares is being pursued to enhance corporate value and reflects our confidence in the company’s medium- to long-term growth potential. Going forward, we will continue to expand shareholder returns while strengthening competitiveness in the traditional casting business and advancing into high-value precision casting and advanced materials sectors."

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