[Alpha Biz= Kim Jisun] Netmarble announced on April 6 that it plans to purchase up to KRW 150 billion worth of shares in its affiliate Coway over the next year.
In a regulatory filing after market close, Netmarble outlined the overall scale and direction of the share purchase, with an initial acquisition of approximately KRW 40 billion scheduled within the first month. The first phase will take place between May 7 and June 5.
Netmarble currently holds a 26% stake in Coway, and its ownership is expected to rise to the high-20% range upon completion of the full KRW 150 billion purchase plan.
The company stated that the increased stake will help stabilize its governance structure and enhance financial soundness. It also expects higher equity method gains and increased dividend income in proportion to its expanded ownership.
Over the past three years, Netmarble has recorded KRW 109.8 billion in dividend income and approximately KRW 300 billion in equity method gains from Coway. With a higher stake, both dividend returns and equity earnings are projected to grow further.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
