Dynamic Design to Issue 30 Billion Won Convertible Bonds

[Asia Economy Reporter Jang Hyowon] Dynamic Design announced on the 12th that it will issue convertible bonds worth 30 billion KRW with a maturity of 3 years.

The bonds will be privately placed targeting Meritz Securities, Meritz Capital, Meritz Fire & Marine Insurance, and others.

Dynamic Design plans to use 27 billion KRW of the funds raised through the convertible bond issuance to repay borrowings, and the remaining 3 billion KRW for operating expenses.

In July, Dynamic Design changed its company name from Sehwa IMC to Dynamic Design to improve its corporate image and make a leap as a global company. Established in 1999, Dynamic Design’s main business is tire mold manufacturing, generating more than 80% of its sales from global tire manufacturers.

A representative of Dynamic Design stated, “We plan to repay all borrowings through this convertible bond issuance, which signifies a transition from a creditor-led management system to an independent management system, allowing us to pursue more proactive management activities. As a strategy to achieve this, we are preparing a blueprint that includes strengthening business competitiveness through the sale of idle assets, facility investments to enhance customer satisfaction, establishing a local integrated management system for overseas subsidiaries, and setting up new overseas subsidiaries to meet diverse customer demands.”

Meanwhile, Dynamic Design added electric vehicle-related business to its articles of incorporation at the shareholders’ meeting in July to generate business synergy with its major shareholder EV Advanced Materials.

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