KOTRA Supports 'SoBuJang' M&A... Kyungin Yanghaeng Acquires Stake in Australian Company

[Asia Economy Reporter Suyeon Woo] KOTRA continues to support securing growth momentum for domestic companies in the electronic materials sector, including assisting Korean chemical company Gyeongin Yanghaeng in acquiring shares of an Australian company.

According to KOTRA on the 20th, Korean chemical company Gyeongin Yanghaeng recently acquired 'Beaumont Molecular,' a company separately established by the Commonwealth Scientific and Industrial Research Organisation (CSIRO) of Australia to produce patented products.

During this process, KOTRA provided local support to ensure a smooth M&A. Gyeongin Yanghaeng's due diligence team completed on-site inspections at the end of January when flights between the two countries were still operating, and after dozens of online negotiations, finalized the acquisition. The signing ceremony was also held via video conference on the 9th.

Gyeongin Yanghaeng is the largest dye manufacturer in Korea and is expanding its business into high-functional electronic materials such as display materials, semiconductors, and flexible OLEDs based on organic synthesis technology.

Jang Sang-hyun, CEO of KOTRA Invest Korea, said, "Although companies are facing difficulties in overseas M&A activities due to the spread of COVID-19, we will continue to support overseas M&A, which is essential to strengthening the competitiveness of materials, parts, and equipment companies."

KOTRA recently assisted chemical materials company Gyeongin Yanghaeng in acquiring shares of the Australian company Beaumont Molecular. At the online signing ceremony held on the 9th, CEO Jo Seong-yong of Gyeongin Yanghaeng (left) is speaking. Photo by KOTRA

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