Elk Corporation (KOSE:A094190) announces a share repurchase program. Under the program, the company will repurchase up to 400,000 shares for KRW 1,436 million based on the closing price of company's share on May 20, 2015. The company will make direct repurchases on exchange.

The purpose behind the program is to stabilize the stock price and enhancement of shareholder value. The company will repurchase up to 49,822 shares on any one day in the program. The retention period starts from May 22, 2015.

Repurchases will continue until August 21, 2015. As of May 20, 2015, the company has no treasury stock within dividend capacity and no shares through other buyback