The Board of Directors of Telefield Inc. (KOSE:A091440) authorized a share repurchase program on December 6, 2012. Under the program, the company will repurchase up to 327,868 shares for KRW 500 million. Repurchases will be made from the stock exchange.

The purpose behind the program is to stabilize the stock price. The company will repurchase up to 55,411 shares on any one day in the program. Repurchases will commence on December 7, 2012 and will continue until March 6, 2013.

As of December 5, 2012, the company has 134,776 shares under direct ownership of treasury stock and 266,269 shares in treasury under trust agreement. Dongbu Securities Co., Ltd. acted as the broker to the company for the buyback transaction.