Chinyang Holdings Corp. (KOSE:A100250) 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 Shinhan Investment Corp.

The purpose of the share repurchase is to enhance shareholder value through stock price stabilization and increase efficiency of fund management. The repurchase program will expire on November 25, 2022. As of May 24, 2022, the company had 1,100,000 shares within scope available for dividend and had no shares in treasury through other repurchase.