SMEC , a company specializing in machine tools and robot automation solutions, announced on the 8th that CEO Choi Young-seop purchased 155,600 shares of the company’s stock on the market as part of efforts to strengthen responsible management. With this purchase, CEO Choi’s total number of shares increased from 3,531,530 to 3,687,130, or a 9.16% stake.
This decision is a measure to dispel concerns among the market and investors and to firmly demonstrate the company's commitment to responsible management amid increased stock price volatility following the recent announcement of a paid-in capital increase.
On the 2nd, SMAC announced a paid-in capital increase plan of 54 billion won and began full-scale steps to expand its global machine tool business. The secured funds will be invested in the acquisition of Hyundai Wia’s machine tool division. Through this, SMAC aims to strengthen its core business capabilities and secure a driving force for future growth. In response to some concerns about a decline in stock prices, the company emphasized that this is a strategic decision to enhance mid- to long-term corporate value.
In terms of responsible management, CEO Choi purchased the company's stocks directly from the market and plans to participate 100% in this paid-in capital increase. This decision by the CEO is a measure to restore market trust and demonstrate the firm will of the management.
CEO Choi Young-seop said, “Regardless of the temporary market reaction, Smack’s fundamental value and growth strategy remain unwavering,” and “As CEO, I directly purchased the company’s stocks to fulfill my responsibility for the company’s vision and enhancing shareholder value.”
He continued, “Through this paid capital increase and business acquisition, we will further enhance Smack’s technological prowess and global competitiveness,” and emphasized, “We will make this a decisive opportunity for sustainable growth.”
A SMAC official also said, “This treasury stock purchase is not a short-term stock price response, but reflects the CEO’s confidence in SMAC’s sound financial structure and business momentum,” adding, “The secured funds will be focused on strategic acquisitions, serving as a stepping stone for SMAC’s global market expansion and enhanced competitiveness.”
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