Tong Yang Life Insurance Co., Ltd. (KOSE:A082640) announces a share repurchase program. Under the program, the company will repurchase up to 2,000,000 shares for a total of KRW 19,380 million which is based on the closing price of KRW 9,600 per share. Repurchases will be made on the stock exchange.

The purpose of the share repurchase program is to enhance shareholder value and to stabilize share price. The maximum number of shares that the company may repurchase on any day is 200,000 shares. The share repurchase program is valid until September 30, 2014.

As of June 29, 2014, the company had 3,500,000 shares in treasury within scope available for dividend and had no shares in treasury through other repurchase.