Genolution Co-CEO Kiok Kim Acquires 36,938 Additional Shares Through On-Market Purchase

Kiok Kim, co-CEO of Genolution, acquired an additional 36,938 shares of the company through on-market purchases from August 5 to 10.

According to Genolution on August 12, Kim made these purchases to enhance shareholder value, based on the view that the company’s current share price is significantly undervalued compared to its intrinsic value.

Previously, on July 31, Kim purchased all 1,112,740 shares of Genolution previously held by Hoil Biomed. Immediately after resolving corporate governance uncertainties through a change in the largest shareholder, Kim reaffirmed his commitment to responsible management by conducting this additional on-market purchase.

Minyi Kim, the other co-CEO, has also steadily acquired a total of 146,714 shares of Genolution in five separate on-market purchases this year. The continuous stock purchases by the top management team since the beginning of the year demonstrate their strong confidence in the future vision of the company and represent proactive efforts to share this confidence with shareholders and to enhance shareholder value.

Since adopting a co-CEO system, Genolution has achieved tangible improvements in its fundamentals. Thanks to efficient decision-making that leverages the two CEOs' expertise, the company posted a net profit of 440 million won in the first quarter of this year, marking a turnaround from a loss in the same period a year earlier. In terms of Genolution's core competitiveness in research and development (R&D), the company has completed several patent applications for RNAi-based crop protection products and registered a patent for artificial rearing of bee larvae this year, accelerating efforts to secure future growth engines.

A Genolution official said, "The back-to-back stock purchases by both CEOs reflect the shared recognition among top management that the current share price is excessively undervalued, despite the company's substantial business growth," adding, "Building on the improved first-quarter earnings and our patent achievements this year, we will continue to maximize the synergy of the co-CEO system and spare no effort to deliver results for our key pipelines and enhance shareholder value."

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