KoAsia Secures 31.8 Billion KRW Through BSE Sale... "Accelerating Future Investments via Selection and Focus"

[Asia Economy Reporter Yoo Hyun-seok] CoreAsia, a system semiconductor design solution specialist company, CoreAsia, announced on the 28th that it will sell all of its shares (68.75%) in BSE, its audio components business division.

Previously, in December last year, CoreAsia sold 31.25% of BSE shares for about 14 billion KRW to expand its system semiconductor business. Including the remaining shares this time, the total sale price amounts to approximately 45.8 billion KRW. Under this contract, CoreAsia will receive a deposit of 1.5 billion KRW on the 11th of next month and the remaining balance of about 30.3 billion KRW on June 29.

The company stated, “This sale of BSE shares is part of CoreAsia Group’s strategy for sustainable growth through selection and concentration,” adding, “It is a proactive adjustment of the existing business portfolio and a decision for future growth engines.”

They continued, “We will focus on nurturing the system semiconductor business division, our next core business, as a future key industry,” and explained, “We will enhance the core competitiveness of the camera module business division, such as optical lenses, to achieve both profitability and growth.”

Additionally, they added, “We will build a future business portfolio to improve profit stability, such as expanding the supply of smart LED technology from the LED business division to major domestic and overseas automobile manufacturers.”

CoreAsia achieved its highest performance in the first quarter over the past three years, driven by strong results in the IT components business division (LED, camera modules, audio components) and increased sales in the system semiconductor business division. On the 24th, the CoreAsia Group’s direct ‘ESG Management Committee’ was officially launched, accelerating efforts to strengthen social responsibility and enhance group capabilities through future value creation.

A CoreAsia official emphasized, “Starting this year, we will enter a full-fledged growth phase through participation in the development of core chips by domestic and global eco-friendly automobile companies, including CoreAsia Nexel’s Exynos Auto, and participation in Samsung Foundry’s global project development by CoreAsia Semi.”

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