The Board of Directors of Volvik Inc. (KOSE:A048550) authorized a share repurchase program on July 16, 2001. Under the program, the company will repurchase up to KRW 1 billion worth own shares pursuant to a trust agreement with Hana Bank. The purpose behind the program is to stabilize the stock price. Repurchases will be funded through company's own funds. Repurchases will commence on July 16, 2001 and will continue until July 16, 2002. As of July 15, 2001, the company has no shares in treasury. On July 16, 2002, the company announced that it has extended the program till July 16, 2003. On July 16, 2003, the company announced that it has extended the program till July 16, 2004. On July 16, 2004, the company announced that it has extended the repurchase program till July 16, 2005. On July 15, 2005, the company announced that it has extended the program till July 16, 2006. On July 14, 2006, the company amended its trust agreement with Hana Bank. The company will repurchase up to KRW 425.04 million worth of shares pursuant to the trust agreement. The company also extended the program till October 16, 2006. On October 16, 2006, the company announced that it has extended the program till April 16, 2007. On April 16, 2007, the company announced that it has extended the program till May 16, 2007. On May 16, 2007, the company announced that it has extended the program till June 15, 2007. On June 15, 2007, the company announced that it has extended the program till July 20, 2007. On July 20, 2007, the company announced that it has extended the program till August 17, 2007. On August 17, 2007, the company announced that it has extended the program till November 16, 2007. On November 16, 2007, the company announced that it has extended the program till February 18, 2008. On February 18, 2008, the company announced that it has extended the program till May 16, 2008. On May 16, 2008, the company announced that it has extended the program till August 18, 2008. On August 14, 2008, the company announced that it has extended the program till November 18, 2008. On November 18, 2008, the company announced that it has extended the program till December 18, 2008. On December 18, 2008, the company announced that it has extended the program till March 18, 2009. On March 18, 2009, the company announced that it has extended the program till June 18, 2009. On June 18, 2009, the company announced that it has extended the program till September 18, 2009. On September 18, 2009, the company announced that it has extended the program till December 18, 2009. On December 18, 2009, the company announced that it has extended the program till March 18, 2010. On March 18, 2010, the company announced that it has extended the program till June 18, 2010. On June 18, 2010, the company announced that it has extended the repurchase program till December 17, 2010. On December 17, 2010, the company announced that it has extended the program till June 17, 2011. On June 17, 2011, the company announced that it has extended the program till December 15, 2011. On December 16, 2011, the company announced that it has extended the program till June 17, 2012. Hana Bank, Woori Investment & Securities Co. Ltd. and Samsung Securities Co. Ltd. acted as the brokers to the company for the buyback. SM Culture & Contents Co., Ltd.'s share repurchase program expired on June 17, 2012. Under the plan, the company has repurchased 267,008 shares.