KoAsia Reappoints Chairman Lee Hee-jun and CEO Wi Jong-mook at General Meeting... "Focusing on Strengthening Group Companies' Capabilities"

[Asia Economy Reporter Hyunseok Yoo] KoAsia announced on the 29th that Chairman Lee Hee-jun and CEO Wi Jong-mook were reappointed at the shareholders' meeting held in Namdong-gu, Incheon Metropolitan City. Along with the appointment of inside directors, the agenda items including ▲approval of the 2020 financial statements ▲appointment of outside directors were all approved as originally proposed.

The company’s strategy is to strengthen competitiveness in the camera module business, which it entered earlier this year through management participation in KoAsia Optics (formerly Dios Tech), as well as the system semiconductor business that has been actively pursued since last year.

Chairman Lee founded KoAsia in 1997. Based on his experience as a Samsung Electronics expatriate in Taiwan, he started the semiconductor distribution business at KoAsia Microelectronics, a Taiwanese semiconductor distribution company. Utilizing his expertise in the foundry sector, he laid the foundation for the current system semiconductor business and established the subsidiary KoAsia Semi in 2019 to venture into new businesses.

KoAsia Semi has marked a successful business start by being selected as a foundry DSP (Design Solution Partner) of Samsung Electronics and an official partner of the UK’s Arm, and is currently undertaking advanced process challenges for global top-tier customers.

CEO Wi has been serving as the CEO of KoAsia Optics alongside his role as KoAsia CEO since the end of last year. KoAsia participated as a strategic investor in the ‘KoAsia Cape No.1 New Technology Business Investment Association,’ which acquired KoAsia Optics. At the time of investment, KoAsia stated, “We expect it to be reborn as a new company based on stable management rights,” and “We will enhance competitiveness in core businesses such as lenses to strengthen cost competitiveness of camera modules and achieve both profitability and growth.”

In particular, as a result of the new management team, including CEO Wi, putting all efforts into receiving audit opinions for about two months, KoAsia Optics received an ‘unqualified’ opinion from an external auditor on the financial statements for the last fiscal year on the 12th. Efforts are still ongoing in various ways to resume stock trading.

The company plans to continue enhancing financial stability through stable management rights and strive to create group synergies. Together with KoAsia CMB, which operates the camera module business in Vietnam, it plans to diversify product lines such as medical devices and AI (artificial intelligence) and secure future growth engines.

The company said, “We will maximize synergy effects by sharing the networks and know-how possessed by both companies.”

This content was produced with the assistance of AI translation services.