The Board of Directors of DAP Corporation (KOSE:A066900) authorized a share repurchase program on July 9, 2013. Under the program, the company will repurchase up to 200,000 shares for KRW 1.11 billion which is based on the closing price of KRW 5,550 per share on July 8, 2013. The company will make a direct acquisition on Korea Securities Dealers Automated Quotation market of the exchange.

The purpose of the repurchase program is to improve stock value through stability of stock price. The company will repurchase maximum of 55,599 shares per day. The repurchases will commence on July 10, 2013 and will end on October 9, 2013.

As of July 8, 2013, the company had a direct ownership of 3,544,010 shares in treasury and had no shares in treasury through trust agreements. Daishin Securities Co. Ltd acted as the Investment broker for DAP Corporation.