Korea Technology Merges with Korea Invest... "Strengthening Business Competitiveness"

[Asia Economy Reporter Jang Hyowon] Korea Investment Bank (hereinafter Korea Invest) announced on the 24th through a public disclosure that it will be absorbed and merged into Korea Technology, a KOSDAQ-listed company.

A representative of Korea Invest explained, "The purpose of the merger is to increase management efficiency and strengthen business competitiveness," adding, "It will proceed as a non-capital increase merger without issuing new shares to enhance shareholder value."

The merger date for both companies is scheduled for May 30, with the registration date set for June 2.

Once the merger is completed, Korea Invest, which served as a bridge between Korea Technology and Daewoo Shipbuilding & Marine Engineering Construction, will disappear, and Korea Technology and Daewoo Shipbuilding & Marine Engineering Construction will be directly connected from a grandchild company to a parent company.

In particular, Korea Technology is expected to directly hold a total of 99.42% of the shares by adding the 96.4% held by Korea Invest to its own 3.02% stake in Daewoo Shipbuilding & Marine Engineering Construction.

The market is also raising the possibility of an additional simplified merger between Korea Technology and Daewoo Shipbuilding & Marine Engineering Construction. It is analyzed that Korea Technology shareholders demanded the merger of the two companies, and accordingly, Korea Invest was first absorbed and merged.

A company official stated, "Daewoo Shipbuilding & Marine Engineering Construction, which is growing with new orders between 1 trillion and 2 trillion won annually, will have significant ripple effects once connected to the stock market," and added, "Considering that there are hardly any shareholders who would oppose this favorable merger, it is expected to proceed faster than anticipated."

They also said, "The company adopts shareholder primacy," and "We plan to actively reflect the opinions of shareholders."

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