Cheil Grinding Wheel Ind. Co., Ltd. (KOSE:A001560) announces a share repurchase program. Under the program, the company will repurchase up to KRW 1,000 million worth of its shares pursuant to a contract with NH Investment & Securities Co., Ltd. The purpose behind the program is to improve shareholder value and to stabilize stock price.

The repurchase program will expire on June 21, 2023. As of June 21, 2022, the company had 2,612,300 treasury shares within scope available for dividend and no shares in treasury through other repurchase.