[Edaily Marketin Kwon so hyun Reporter] DongwonFisheries(030720)has reaffirmed its policy of enhancing corporate value by releasing its second Seohan, which outlines its commitment to management innovation and shareholder returns.

On the 5th, DongwonFisheries posted a “Seohan” on its official website, outlining its plan to enhance corporate value based on the deep-sea fishing competitiveness it has built up over 56 years and to share future results with shareholders. This marks the company’s second Seohan.

In this Seohan, the company stated, “DongwonFisheries is a company that has been responsible for South Korea’s distant-water fishing industry and food security for 56 years,” adding, “In the first half of this year, we achieved results that exceeded market expectations despite a challenging business environment marked by high oil prices and a strong exchange rate.”

In fact, DongwonFisheries has contributed to the development of the deep-sea fisheries industry by becoming the first company in Korea to develop tuna for sashimi into processed products for export to Japan and by supplying tuna to the domestic market through its subsidiaries. Furthermore, the company has pioneered new deep-sea fishing grounds beyond the South Pacific, including the Atlantic Ocean, and established a value chain spanning deep-sea fishing, processing, and frozen logistics.

DongwonFisheries explained that the challenges it currently faces do not stem from a weakening of its technological capabilities or business competitiveness, but rather from recent changes in the capital market environment. The company went on to state that it will pursue improved profitability, secure new growth engines, and drive management innovation based on its deep-sea fishing expertise, global trading network, and seafood processing technology.

The company also outlined its shareholder return plan. DongwonFisheries emphasized, “Although we have not been able to pay dividends to date due to the lack of distributable profits under the Commercial Act, we will implement shareholder returns as soon as distributable profits are secured,” adding, “It is the company’s responsibility to share the fruits of its growth with shareholders.”

DongwonFisheries’ consolidated operating profit for the first half of this year increased by 33% year-over-year, while net income rose by 62.9%. The company is also expecting improved performance in the second half of the year, as the new trawler “DW NOVA” is scheduled to set sail.

Currently, DongwonFisheries’ book value per share (BPS) stands at 12,115 won, while its recent stock price hovers around 5,500 won, resulting in a price-to-book ratio (PBR) of approximately 0.44.

A DongwonFisheries official stated, “We plan to prioritize shareholder returns as soon as the restrictions under the Commercial Act are lifted,” adding, “We will strive to enhance corporate value through management innovation and ensure the company receives a fair valuation in the market.”