Telefield Launches 'Hanul Sojae Gwahak' via Im Chong, Secures 80 Billion KRW for New Electronic Materials and Components Business

Telefield announced on the 25th that it passed all agenda items including the appointment of new board members, company name change, and addition of business objectives through an extraordinary general meeting of shareholders.

At the extraordinary general meeting held at the headquarters in Seongnam, Gyeonggi Province, Telefield appointed experts in electronic materials and substances as new board members. CEO Ha Junho holds a bachelor's degree in electrical engineering and a master's degree in telecommunications engineering from Yonsei University. He later earned a Ph.D. in computer engineering from USC (University of Southern California) and is a semiconductor expert who previously served as a vice president at Intel in the United States. Inside director Cho Sungmin is a former certified public accountant at Anjin Accounting Corporation, and inside director Lee Jimin previously worked as an engineering team leader at the U.S. Air Force.

Along with this, the agenda items for the company name change and addition of new business objectives were approved. The company name was changed to Hanul Material Science, and new electronic materials and substances business was added.

Specifically, the company plans to engage in ▲manufacturing and sales of semiconductor and electronic-related chemical materials ▲manufacturing and import/export of electronic-related machinery and parts ▲import and export of chemical substances ▲manufacturing, blending, and sales of chemical substances ▲sales agency business for chemical substances and chemical products.

Additionally, Telefield secured all investment funds for the new business along with the appointment of the new management team. The 4th series CB (convertible bonds) worth 20 billion KRW and the 1st series BW (bond with warrants) worth 30 billion KRW, scheduled for payment on January 30, were paid early. Also, a total of 67 billion KRW, including the 5th series CB worth 9 billion KRW and the 3rd series BW worth 8 billion KRW, scheduled for payment on March 27, were paid early. The investment funds raised this time, along with the third-party allotment capital increase funds paid on the 27th of last month, will bring the company’s reserved cash to over 80 billion KRW.

A Telefield official stated, "To quickly stabilize the company’s financial structure, the new executives actively negotiated with investors immediately after the extraordinary general meeting to achieve early payment," adding, "We promise to become a genuine foundation for the future core business of electronic materials and substances, and we will do our utmost to maximize shareholder value through rapid structural improvement."

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