Oasis Market Secures 15 Billion KRW Investment... "Group Total Reaches 56.6 Billion KRW"

Investing in Logistics Efficiency... "Full Effort for Growth of Global e-Commerce Companies"

[Asia Economy Reporter Yuri Kim] Oasis Market announced on the 16th that it has secured an additional 15 billion KRW in investment. With this, the cumulative investment raised by GeoSoft-Oasis Market (hereinafter Oasis Group) has reached 56.6 billion KRW.

A fund established by Must Ventures, a subsidiary of Must Asset Management, contributed 10 billion KRW, and Cornerstone Pentastone 2 New Technology Association, an investment firm affiliated with Hoban Group, contributed 5 billion KRW, totaling 15 billion KRW. This investment round is the first large-scale capital investment targeting external institutional investors since Oasis Market's establishment in 2011, when a paid-in capital increase was conducted for some employees. The company stated that the corporate value was recognized at 315 billion KRW.

An Oasis representative said, "When we received investment from Kakao Investment, part of the Kakao Group, last December, the corporate value was reflected at 223 billion KRW," adding, "This represents an increase of more than 50% in less than three months."

Oasis Market received a total investment of 16.6 billion KRW last year in the first half from an investment association established by Korea Investment Partners, the top venture investment company. This included convertible bonds issuance and sale of existing shares. Subsequently, the parent company GeoSoft recognized the high growth potential of its subsidiary Oasis Market and issued convertible bonds (10 billion KRW) and exchangeable bonds (10 billion KRW) with a zero percent coupon rate. The acquirer was also a fund led by Korea Investment Partners. The exchangeable bonds were exchangeable for Oasis shares. At the end of last year, Kakao Investment made a strategic investment of 5 billion KRW.

Junhyung Ahn, CFO of Oasis Group, said, "To maximize the efficiency of e-commerce and logistics businesses, GeoSoft, the parent company of Oasis, recently established a new subsidiary focused on fulfillment business with a capital of 5 billion KRW," adding, "While maintaining a management policy as a profitable company, we will also emphasize growth through active investment."