Central Insight Shows Clear Path to Exit from Managed Stock Status... "Discovering New Growth Engines"

[Asia Economy Reporter Hyunseok Yoo] Central Insight announced on the 18th that it will strengthen financial soundness by resolving concerns about capital erosion through a free capital reduction and will fully launch new businesses.

On the 2nd of last month, Central Insight completed the capital reduction process to cover accumulated deficits, reducing its capital from approximately 43.4 billion KRW to 4.3 billion KRW. Following the capital reduction, the shares were consolidated with 10 common shares merged into 1 free new share, which were successfully listed without any issues.

Through the capital reduction, Central Insight's capital erosion ratio is expected to fall below 50%, resolving the capital erosion that was the basis for its designation as a management item. The company expects to be removed from the management item status when the business report and other related documents confirming this fact are submitted.

While resolving the management item issue, Central Insight is also accelerating the discovery of new growth engines in various fields such as biotechnology. A company official stated, “This year, we accelerated the normalization of management by strengthening the financial structure through free capital reduction and other measures. Additionally, as we are fully committed to discovering new growth engines, the upcoming year 2021 will be the first year of a new leap forward through new businesses.”

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