[Edaily Reporter Lee Hye-ra] #KoreaPIM is up more than 4% in early trading on news that its largest shareholder is buying back its own shares.
According to MP Doctor on the 15th, Korea PIM is trading at 88,700 won as of 9:01 a.m., up 4.60% from the previous trading day.
Korea PIM announced that its largest shareholder, CEO Song Jun-ho, purchased 1 billion won worth of the company’s shares on the open market. With this acquisition, CEO Song’s stake increased from 46.19% to 46.40%.
Korea PIM explained that this share acquisition by the largest shareholder demonstrates a commitment to responsible management and enhancing shareholder value. It is interpreted as an expression of confidence in future business development as results from high-value-added new businesses—such as humanoid robots, artificial intelligence (AI) data centers, and defense—become more visible.
Korea PIM is currently conducting performance evaluations based on a prototype of an ultra-compact reducer. In addition to product development, the company is concurrently proceeding with commercialization procedures, such as supplying samples to global companies, and aims to complete testing within this year and begin supplying initial volumes starting next year. The company is also expanding into additional application areas after recently securing an initial order for cooling solution materials from a U.S. power solutions company.
A representative from Korea P.I.M. stated, “While we expect additional growth starting in the second half of the year, driven by the inclusion of high-value-added business performance alongside our existing stable revenue from the automotive industry, the largest shareholder decided to acquire this stake to strengthen responsible management based on these prospects.”