The Board of Directors of Kwangjin Industrial Co. Ltd. (KOSE:A026910) authorized a share repurchase program on February 22, 2012. Under the program, the company will repurchase up to 300,000 shares for KRW 1.14 billion based on the closing price of company's share on February 21, 2012. Repurchases will be made on the stock exchange. The purpose behind the program is to stabilize the stock price and to enhance shareholder value. The company will repurchase up to 30,000 shares on any one day in the program. Repurchases will commence on February 23, 2012 and will continue until May 22, 2012. Tong Yang Securities Inc. acted as the broker to the company for the buyback.