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 pursuant to a contract with Eugene Investment & Securities Co., Ltd. The purpose of the share repurchase is stock price stability and shareholder value enhancement. The repurchase program will expire on April 6, 2023.

As of October 4, 2022, the company had no shares within scope available for dividend and had no shares in treasury through other repurchase.