Korea Technology Escapes Management Status by Securing Financial Stability... "Will Be the Starting Point of a Quantum Jump"

[Asia Economy Reporter Jang Hyowon] Korea Technology, a KOSDAQ-listed company, announced on the 24th through a disclosure on the 23rd that the reason for its designation as a management item has been lifted.

Previously, Korea Technology had submitted its semi-annual report through a disclosure on the 23rd.

According to the disclosure, based on separate financial statements, Korea Technology succeeded in turning a profit with an operating profit of 800 million KRW in the second quarter of this year, and significantly improved financial stability by reducing its debt ratio from 1915% at the end of the previous period to 92%.

Accordingly, the Korea Exchange announced the removal of Korea Technology from the management item list on the 23rd.

The company secured financial stability by continuously promoting sound management such as ▲the liquidation of non-core businesses ▲restructuring of financial structure ▲securing investment destinations ▲ensuring cash liquidity.

At the same time, it is known to be strengthening growth momentum through diversification of domestic and overseas order portfolios and the establishment of physical and human infrastructure of Daewoo Shipbuilding & Marine Engineering Construction, which serves as a cash cow.

Shin Yong-gu, CEO of Daewoo Shipbuilding & Marine Engineering Construction, stated, “During the period of being designated as a management item, the company continuously made efforts for intensive business restructuring and financial soundness,” and added, “As a result, we were able to escape from the management item status in a short period of time.”

He continued, “This removal from the management item will be the starting point of the company’s quantum jump,” and said, “We will do our best to enhance shareholder value and the company’s sustainable future vision.”

Meanwhile, Korea Technology is accelerating the merger process by sequentially fulfilling the small-scale merger requirements with Daewoo Shipbuilding & Marine Engineering Construction and conducting labor-management consultations at Daewoo Shipbuilding & Marine Engineering Construction.

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