Hurim Robot, CEO Kim Bong-gwan and Executives Actively Participate in Public Offering Rights Issue

Hurim Robot announced on the 25th that CEO Kim Bong-gwan and employees will actively participate in the general public paid-in capital increase. On the first day of the paid-in capital increase subscription, July 24, Vice Chairman Lee Jong-jin subscribed about 200 million KRW, CEO Kim Bong-gwan 100 million KRW, and Hurim Robot employees about 500 million KRW. This figure indicates high expectations within the company for this public offering.

Kim Bong-gwan, CEO of Hurim Robot, is a robotics expert who contributed to talent development by serving as an adjunct professor in the Department of Electronic Control Engineering at Korea University of Technology and Education from 2014 to 2019, and has about 20 years of experience as the planning director of Hanul Robotics. Vice Chairman Lee Jong-jin also has extensive knowledge and vision in future technologies in the electrical and electronics fields, having worked for a long time at Samsung Future Strategy Office and Samsung Electronics.

The confirmed public offering price for Hurim Robot's general public paid-in capital increase is 1,705 KRW, with the subscription period until the 25th, payment date on July 29, and new shares listing scheduled for the 8th of next month. This general public paid-in capital increase amounts to 59.775 billion KRW, with 35 million shares. Of this, 50 billion KRW will be used for the balance payment of the old stock purchase contract and the payment for the 15 billion KRW third-party allotment paid-in capital increase related to the acquisition of EQCell.

Kim Bong-gwan, CEO of Hurim Robot, said, “Hurim Robot has been striving to enter the equipment business since last year,” and added, “We are grateful that many employees share the company’s vision, including vertical integration through the acquisition of EQCell, a specialized company in secondary battery and solar equipment, entry into the equipment business, and business expansion aligned with AI autonomous manufacturing.”

He continued, “As CEO, I decided to participate in the paid-in capital increase to share the employees’ intentions with a sense of responsibility,” and stated, “Just as the steam engine and conveyor belt changed the industrial ecosystem, artificial intelligence is expected to bring significant changes to manufacturing, so I will do my best not to miss this opportunity.”

Hurim Robot has separately paid about 6 billion KRW as a contract deposit and paid 23 billion KRW for the third-party allotment paid-in capital increase of EQCell, apart from the general public paid-in capital increase, for the acquisition of EQCell.

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