The Board of Directors of JNK Heaters Co. Ltd. (KOSE:A126880) authorized a share repurchase program on May 4, 2012. Under the program, the company will repurchase up to KRW 5 billion worth of shares through trust agreements. The company has entered into trust agreement worth KRW 3 billion with Daewoo Securities Co., Ltd. and KRW 2 billion with Woori Investment & Securities Co., Ltd. The purpose of the repurchase program is to stabilize share prices and enhance shareholder value. The share repurchase program will commence on May 7, 2012, and will end on November 6, 2012. As of May 4, 2012, the company has a direct ownership of 181,240 shares. Daewoo Securities Co., Ltd. and Woori Investment & Securities Co., Ltd. acted as brokers to JNK Heaters Co. Ltd. for the buyback transaction.