Korean Drug Co. Ltd. (KOSE:A014570) announces a share repurchase program. Under the program, the company will repurchase up to 15,000 shares for a total of KRW 82.8 million, which is based on the closing price of KRW 5,520 per share on March 7, 2016.

The company will repurchase its shares through securities market. The purpose of the share repurchase program is to raise stock value through stability of stock price and employee Incentive payment. The maximum number of shares that the company may repurchase on any day is 14,278 shares.

The actual repurchase number of shares and the amount may change according to the hereafter stock price change. The share repurchase program is valid until June 8, 2016. As of March 7, 2016, the company had 73,000 shares in treasury within scope available for dividend and had no shares in treasury through other repurchase.