[Edaily Reporter Park Jeong-soo] #WooJin B&G, a company specializing in veterinary pharmaceuticals, is stepping up its commitment to responsible management through a large-scale share purchase by its largest shareholder and a transition to a single CEO system.

WooJin B&G announced on the 11th that CEOs Kang Seok-jin and Kang Jae-gu plan to purchase 161,000 shares of the company’s stock, worth 500 million won each, on the open market. The trading period will run from July 9 to July 31.
Once this share purchase is completed, the combined stake held by the largest shareholder and related parties is expected to increase by 5.57 percentage points, from the current 25.25% to 30.82%.
The company explained that the largest shareholder decided to directly purchase shares based on the assessment that the recent stock price is undervalued relative to the company’s intrinsic value. An official from Woojin B&G stated, “The largest shareholder’s share purchase demonstrates a commitment to responsible management as well as confidence in future earnings improvement and growth.”
Woojin B&G has transitioned from a dual CEO system to a single CEO system led by Kang Jae-gu to enhance management efficiency. The company plans to use this single CEO structure to accelerate decision-making for the expansion of its overseas business.
Currently, Woojin B&G is pursuing the diversification of its export markets beyond the existing Vietnamese market to include Southeast Asia, the Middle East, and the Commonwealth of Independent States (CIS). The company plans to accelerate the growth of its overseas business by expanding global certifications for veterinary vaccines and pharmaceuticals.
An official from Woojin B&G stated, “We plan to improve management efficiency and focus on expanding our overseas business through the sole representative system,” adding, “We will strengthen our growth foundation by targeting the global market.”