Jaeyoung Solutec Sells Namdong Industrial Complex Mold Factory for 15.8 Billion Won... "Disposing Idle Assets to Improve Financial Structure"

Jaeyoung Solutec is accelerating efforts to improve its financial structure through the sale of related idle assets following the decision to discontinue its mold business.

On the 21st, Jaeyoung Solutec, a camera actuator specialist company, announced that it will sell its mold factory located in Namdong Industrial Complex, Incheon, for 15.8 billion KRW. The proceeds from the sale will be used to improve the financial structure by repaying borrowings, reduce interest expenses, and promote new business ventures.

In August, Jaeyoung Solutec decided to cease operations of its mold business division to restructure its business focusing on profitability and to enhance management efficiency. Although it is the company's original business, it was judged that losses continued due to intensified competition and growth potential was limited. Additionally, the high growth of the core nano-optics business has secured the company's resilience and business stability, which was also a factor behind this bold decision.

The existing mold business division owns production plants not only in Namdong Industrial Complex, which is now decided to be sold, but also in Asan, Chungnam. With the discontinuation of the mold business, the Asan plant can also be utilized through sale or liquidation at any time.

A Jaeyoung Solutec official stated, “The real estate value of domestic and overseas business sites, including the headquarters in Songdo, Incheon, amounts to about 100 billion KRW, greatly exceeding the market capitalization. Since all major production facilities have been relocated to the Vietnam factory, idle real estate will be used as resources for financial structure improvement or new business investment when necessary.”

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