[E-Daily Reporter Park Jung-Soo ] Next-generation leisure platform company Daesung Fine Tech. Co., Ltd(104040)announced on the 26th that CEO Kim Jong-seok purchased 9,950 shares of the company’s common stock on the open market. The company explained that this purchase took place following the recent announcement of first-half earnings, and that the CEO’s direct purchase of company stock demonstrates his confidence in future earnings growth and the potential for increased corporate value.
With this on-market purchase, CEO Kim Jong-seok’s shareholding increased from 3,465,664 shares to 3,475,614 shares, and his ownership stake rose from 12.93% to 12.96%.
CEO Kim plans to continue making additional on-market purchases whenever the company reports strong earnings, thereby demonstrating to shareholders his confidence in the company’s sustained growth and his commitment to responsible management.
The company expanded its business scope by merging with Monolith, a developer of next-generation leisure theme parks, at the end of last year, having previously focused primarily on automotive parts manufacturing. At the annual general meeting of shareholders in March of this year, the company changed its name to DSM Corporation and launched a new integrated corporate structure. The company explained that the first-half results are particularly significant as they represent the first set of financial results since the launch of the integrated corporate structure.
Based on last year’s financial disclosures, DSM Corporation’s revenue was approximately 28.5 billion won, and the company set a target of over 50 billion won in annual revenue earlier this year. However, having recorded approximately 29 billion won in revenue in the first half of this year alone, the company recently raised its annual revenue target to over 60 billion won. The company believes this target is achievable, considering the growth momentum of 9.81 Park Jeju and the start of revenue from new businesses in the second half of the year.
Growth momentum is also becoming evident across business segments. In the Mobility Division, mass production and supply of GV90 parts—which have been under development for a long time—are scheduled to begin in the fourth quarter. The Monolith Division expects the increase in foreign tourists at 9.81 Park Jeju and the effects of Jeju’s peak tourism season in the second half of the year to take full effect.
Starting next year, new projects on an even larger scale will be added. 9.81 Park Incheon Airport, which DSM Corporation is developing near Incheon International Airport with the goal of establishing a K-tourism hub, is expected to open next spring. With a construction completion rate of 80%, it is projected to attract twice as many visitors as the Jeju location. It is reported that 9.81 Park’s global licensing business is currently in full-scale negotiations with local partners following the establishment of a local subsidiary in Shanghai, China, in May of this year.
A DSM Corporation official stated, “The CEO’s recent stock purchase on the open market is intended to demonstrate confidence in the company’s future growth as it transforms into a new type of high-growth global platform company following the merger,” adding, “We plan to continue making additional stock purchases on the open market whenever we achieve strong results to demonstrate our commitment to responsible management.”