[Special Stock] RaonPeople Surges Over 10% on News of New Business Investments in Metaverse and More

[Asia Economy Reporter Park Jihwan] On the 28th, the stock price of AI specialized company Raonpeople showed strong performance. The news of securing an investment of approximately 30 billion KRW based on new businesses such as AI convergence metaverse and digital twin appears to have influenced this.

As of 9:19 AM on the day, Raonpeople was trading at 18,500 KRW, up 10.12% (1,700 KRW) from the previous trading day.

Raonpeople is receiving 30 billion KRW in operating and facility funds from institutions and funds to promote new businesses such as AI convergence metaverse and digital twin. The day before, Raonpeople announced the issuance of 30 billion KRW worth of anonymous, unsecured private convertible bonds. The total amount of 30 billion KRW includes participation from four institutions: Kiwoom AI New Technology Business Investment Association with 9 billion KRW, Kiwoom Securities with 4 billion KRW, and Rhinos and Suseong Asset Management with 17 billion KRW. The issue price is 17,581 KRW.

Raonpeople plans to use 15 billion KRW of the raised funds for the data dam project to build an intelligent government, the next-generation intelligent transportation system (C-ITS) construction, the digital twin business that implements a twin real world in the metaverse environment, research and development expenses to supply AI smart farming solutions to local governments, and relocation and facility investment for becoming a global company headquarters.

The remaining 15 billion KRW will be used as R&D operating funds for strengthening global sales capabilities, patent applications and new technology development, materials and logistics costs, and training of development personnel.

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