[Public Notice+] Seojin System Issues 188 Billion KRW Convertible Bonds... "Accelerating Business Expansion"

[Asia Economy Reporter Minji Lee] Advanced industrial equipment and component supplier Seojin System announced on the 16th that it will issue convertible bonds worth 188 billion KRW, including the 9th series general convertible bonds of 18 billion KRW and the 10th and 11th series perpetual convertible bonds totaling 170 billion KRW.

Seojin System is issuing bonds close to one-quarter of its market capitalization, aiming to use this fundraising as a catalyst to accelerate full-scale business expansion in the coming year.

Among these, the 170 billion KRW convertible bonds scheduled for payment on February 4 next year have a 30-year maturity but are perpetual bonds that can be extended for another 30 years at Seojin System's discretion. From an accounting perspective, they are recognized as equity rather than debt.

Previously, Seojin System boldly invested in expanding facilities in Vietnam and domestically, leveraging the 220 billion KRW worth of 4th to 6th series convertible bonds issued since early 2020. Based on this, the company has recorded its highest quarterly sales for three consecutive quarters this year.

Currently, Seojin System is achieving steady results in various global advanced industrial sectors, including ESS, electric vehicle battery components, semiconductor parts, and home appliances, in addition to telecommunications equipment. Recently, it has diversified its business portfolio by entering the container box production market.

Seojin System's CEO Naehyuk Jeong stated, “We take pride in having focused on timely R&D and facility investments so far, and we aim to establish ourselves as a central company within the paradigm of various global advanced industries.”

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