The Board of Directors of Elk Corporation (KOSE:A094190) authorized a share repurchase program on March 30, 2012. Under the program, the company will repurchase up to 242,914 shares for KRW 2.99 billion based on the closing price of company's share on March 29, 2012. The company will make direct repurchases on exchange. The purpose behind the program is to stabilize the stock price. The company will repurchase up to 35,384 shares on any one day in the program. Repurchases will commence on April 2, 2012 and will continue until July 1, 2012. As of March 30, 2012, the company has 1,179,434 shares in treasury. Hanwha Securities Co., Ltd. acted as the broker for the buyback. Elk Corporation completed its share repurchase program on April 26, 2012. Under the program, the company has repurchased 242,914 shares for KRW 3.07 billion.