Truewin Completes Asset Revaluation... 13.9 Billion KRW Difference Generated

[Asia Economy Reporter Hyunseok Yoo] System semiconductor company Truewin announced on the 8th that it recorded an appraisal gain of 13.9 billion KRW after completing the revaluation of its land assets.

Truewin owns land parcels including 103-30 Munji-dong, Yuseong-gu, Daejeon, where its headquarters is located. The previous book value of the land was 6 billion KRW. Following the revaluation, the appraised value rose to 19.9 billion KRW, accounting for 14% of the total assets.

Truewin is also strengthening its internal management strategy. The decision to revalue the land assets is part of this effort. Additionally, through the joint venture with Hanwha Systems called 'Hanwha Intelligence,' the company is enhancing its business capabilities. Hanwha Intelligence is a system semiconductor sensor company planning to specialize in the development and production of IR (infrared) sensors, a core component of night vision, and automotive MEMS sensors.

A Truewin representative stated, “As of the end of last year, Truewin’s liabilities and equity were 59.2 billion KRW and 36.4 billion KRW respectively, resulting in a debt ratio of 162%. Due to changes in the publicly announced land prices, the value of these assets has increased to current market value, and we expect the debt ratio to decrease to the 50% range.”

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