FocusHNS "Addition of Business Objectives and Appointment of New Management at Extraordinary General Meeting"

Focus HNS announced on the 28th that it held an extraordinary general meeting of shareholders and a board of directors meeting at its headquarters in Dongan-gu, Anyang City, where it resolved to amend its articles of incorporation to add new business purposes and to appoint directors.

The company added the following business purposes: △manufacturing of metal processed products and structural metal products △manufacturing of road traffic facilities, prefabricated structures, metal assembly, and transport buildings △trading of computer systems, electronic components, etc. △manufacturing and sales of smart cards and terminals. Additionally, the board appointed Park Cheol-woong as the new CEO, establishing a dual CEO system alongside the existing CEO Kim Dae-jung.

The agenda to change the company name to Focus AI was excluded on this day. The company explained that since numerous public institution bids will continue through the second half of the year, the existing name will be maintained temporarily for procedural efficiency.

A representative of Focus HNS stated, “Along with the change of the largest shareholder, we approved the agenda to add new business purposes to enter promising new industries for future growth,” and added, “Through collaboration with the new management, we will maximize shareholder value by enhancing corporate value.”

They continued, “We have completed all payments for the remaining balance related to the change of the largest shareholder, and we will steadily proceed with strengthening competitiveness in existing businesses and expanding new businesses.”

Meanwhile, on the 20th, WeHub announced that the largest shareholder had changed to Yang Jae-seok, chairman of JM Coffee Group. Chairman Yang is known for selling 100% of the shares of the coffee franchise brand Compose Coffee to Philippine companies and others for $340 million (approximately 470 billion KRW). In July, he also participated in a capital increase of Focus HNS with an investment of about 1 billion KRW.

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