[Edaily Reporter Park Jung-Soo ] DongwonFisheries(030720)has unveiled a corporate value enhancement plan to return half of its net income to shareholders over the next three years. The company aims to improve its price-to-book ratio (PBR), currently at 0.5x, and achieve a market capitalization of 100 billion won in the medium to long term.
According to the Financial Supervisory Service’s electronic disclosure system on the 27th, DongwonFisheries disclosed its “2026 Corporate Value Enhancement Plan,” which was established in accordance with the Korea Exchange’s guidelines.
The plan includes key measures such as: △ strengthening profitability and the competitiveness of core businesses; △ setting a three-year shareholder return rate of 50%; △ achieving a return on equity (ROE) of 10–20%; and △ enhancing market communication through regular investor relations (IR) briefings.
In particular, the company will significantly strengthen its shareholder return policy. DongwonFisheries has set the total shareholder return rate—including dividends and share buybacks—at 50% of net income for the three-year period from 2027 to 2029. In 2027, the company plans to actively pursue returning 50% of net income to shareholders in the form of cash dividends.
Based on improved first-half performance, the company intends to meet the requirements for distributable earnings and institutionalize the sharing of results with shareholders. It also plans to disclose the basis for dividend decisions and the results of their implementation to the market to enhance the predictability of its shareholder return policy.
The background for this value-enhancement plan lies in the improvement in profitability during the first half of this year. DongwonFisheries’ consolidated revenue for the first half of this year was 89.8 billion won, a 7.7% decrease compared to the same period last year. In contrast, operating profit increased by 33.0% to 8.1 billion won, and net income rose by 62.9% to 7.5 billion won.
Based on these results, DongwonFisheries aims to improve its price-to-book ratio (PBR), which currently stands at approximately 0.5x. The company has set key performance indicators (KPIs) of achieving a return on equity (ROE) of 10–20% and a mid- to long-term market capitalization of 100 billion won.
To this end, the company has set its capital allocation priorities in the following order: strengthening core business competitiveness, growth investments, securing financial stability, shareholder returns, and selective mergers and acquisitions (M&A). The strategy is to simultaneously enhance capital efficiency and profitability through the divestiture of inefficient assets, fleet optimization, and expanding the share of high-value-added processed foods.
The company will also strengthen communication with the market. It plans to regularly report the status of its corporate value enhancement plan to the board of directors and disclose progress through public announcements at least once a year. It will also work to institutionalize investor relations (IR) activities in conjunction with earnings announcements and strengthen shareholder communication channels on its website.
An industry insider stated, “Despite holding assets such as a deep-sea fishing fleet and real estate, DongwonFisheries has historically been valued at a low level,” adding, “Following improved first-half earnings and the specific announcement of a 50% shareholder return ratio and ROE targets, it will be interesting to see if the company can be reevaluated by the market going forward.”