Opticore Approved for SPAC Merger... Scheduled to be Listed on KOSDAQ in January Next Year

[Asia Economy Reporter Jang Hyowon] Opticore (CEO Jin Jaehyun), a manufacturer of ‘optical transceivers,’ a core component of 5th generation (5G) mobile communication, announced on the 17th that it approved the merger agenda with KB No.20 SPAC at the shareholders' meeting held on the same day. Accordingly, Opticore is scheduled to enter the KOSDAQ market on January 4 next year.

The company plans to use the funds raised through this merger to expand production facilities and invest in equipment. The merger price between Opticore and KB No.20 SPAC is 3,171 KRW, and the merger date is set for the 20th of next month. After the merger, the total number of issued shares will be 26,201,355.

Last year, the company recorded sales of 33.35251 billion KRW, growing 106.66% compared to the same period the previous year, and during the same period, operating profit turned positive to 5.56479 billion KRW. From the end of this year, as major telecommunication operators fully upgrade their 5G networks, Opticore is expected to see an expansion in orders for products such as optical transceivers, projecting continued solid performance.

Opticore develops, manufactures, and sells optical transceivers and optical multiplexers essential for network construction using optical communication laser technology. The company has established a strong market position through top-quality optical transceiver development and production technology and infrastructure, securing partnerships with leading domestic and international telecommunication operators, including SK Telecom. Additionally, through its subsidiary E-Photonics, it internalizes the optical source (laser diode) technology, which is the core technology for optical transceiver development, aiming to reduce production costs of future products.

The company has set a goal to establish a local sales network for entry into the North American market next year. It is reviewing new market entry targeting 5G telecommunication operators and data centers in the United States, planning to export 25Gbps optical transceivers for 5G operators and 100/400Gbps optical transceivers for data centers as its main products. Sales are expected to begin as early as the second half of next year targeting small and medium data centers and 5G operators.

Jin Jaehyun, CEO of Opticore, said, “The approval of the merger agenda with KB No.20 SPAC has laid the foundation for us to leap forward as a global company in the optical communication components field,” adding, “We will continue to grow through ongoing research and development and expansion into new businesses.”

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