[Edaily Reporter Kwon Oh Seok ] DUOBACK CO., LTD.(073190)’s stock price is surging in early trading. Buying interest appears to be surging following news that CEO Jeong Gwan-young has increased his stake through on-market purchases to enhance the company’s value.

According to MP Doctor on the 7th, DUOBACK CO., LTD.’s stock is trading at 1,487 won as of 9:21 a.m., up 7.73% from the previous trading day.
Previously, on the previous day, DUOBACK CO., LTD. announced that CEO Jeong had acquired approximately 61,776 shares through on-market purchases over seven trading days, from the 24th of last month to the 4th of this month.
With this acquisition of treasury stock, CEO Jeong now holds 4,351,102 shares, representing a 36.36% stake. The combined stake held by the largest shareholders—including CEO Jeong—and related parties increased from 43.59% to 44.11%, while the stake held by key management also expanded.
The company cited responsible management and the enhancement of corporate value as the reasons for the share repurchase. CEO Jeong Gwan-young had previously purchased 60,710 shares of the company’s stock on the open market in March. DUOBACK CO., LTD. explained that, as the company continues to make multifaceted efforts to increase corporate value—including strengthening profitability and financial soundness—this share buyback is part of a strategy to narrow the gap between the company’s market valuation and its actual corporate value.