Tongyang Inc. (KOSE:A001520) announces a share repurchase program. Under the program, the company will repurchase up to KRW 5,000 million worth of its shares according to the contract with Eugene Investment & Securities Co., Ltd. The purpose of the program is stock price stability and shareholder value enhancement. The program will expire on August 8, 2022.

As of February 7, 2022, the company had 40,448,364 shares in treasury within the scope available for dividend and had 63,636 shares in treasury through other repurchases.