The Board of Directors of Dap Co. Ltd. (KOSE:A066900) authorized a share repurchase program on December 12, 2011. Under the program, the company will repurchase up to 1,000,000 shares for KRW 2.15 billion based on the closing price of company's share on December 11, 2011. Repurchases will be made from the KOSDAQ Market. The purpose behind the program is improving stock valuation from stability of stock price and treasury stock distribution Incentive payment to Officers. The company will repurchase up to 100,000 shares on any one day in the program. Repurchases will commence on December 13, 2011 and will continue until March 12, 2012. As of December 11, 2011, the company has 2,000,000 shares under direct ownership of treasury stock. Daishin Securities Co., Ltd. acted as the broker to the company for the buyback. Dap Co. Ltd. completed the share repurchase program on March 8, 2012. Under the program, the company has repurchased 1,000,000 shares for KRW 2.47 billion.