Infraware Launches 'Polaris' Group with Sewon-IANetworks to Strengthen ESG Management
[Asia Economy Reporter Jang Hyowon] Infraware, which changed its company name to ‘Polaris Office,’ has officially launched the ‘Polaris’ group together with Sewon and IA Networks.
On the 29th, Infraware announced that through separation from the IA Group, it will establish an independent management system among the three companies: Infraware, Sewon, and IA Networks.
Accordingly, Sewon converted the IA convertible preferred shares (CPS) it held into common shares for simple investment purposes, and IA dissolved its special shareholder relationships with Sewon and IA Networks.
The Polaris Group and IA Group plan to continue their business cooperation going forward.
With the launch of the Polaris Group, Infraware, Sewon, and IA Networks appointed Cho Sung-woo as the chairman of Polaris Group, who will oversee group management.
In his inaugural speech, Chairman Cho stated, “Polaris Group has added eco-friendly business purposes such as modular (prefabricated) business at this regular shareholders’ meeting and established an ESG (Environmental, Social, and Governance) management system to secure future new growth engines. As the three companies are expected to achieve significant growth in their respective business areas this year, including Sewon’s electric vehicle parts business, we anticipate even greater synergy effects compared to last year.”
Meanwhile, Infraware changed its company name to ‘Polaris Office’ at the regular shareholders’ meeting held on the 24th. IA Networks will also change its company name to ‘Polaris Works’ at the shareholders’ meeting on the 29th. Sewon decided to maintain its current company name considering its existing business relationships and ongoing projects with global electric vehicle manufacturers.
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Infraware is an office software specialist company and the largest shareholder of IA Networks. IA Networks, which possesses QRNG (Quantum Random Number Generator) module packaging technology?a core component of quantum security?is the largest shareholder of Sewon, a company specializing in electric vehicle air conditioning parts.
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