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[Asia Economy Reporter Jang Hyowon] Korea Technology, a KOSDAQ-listed company chaired by Kim Yongbin, has clearly distanced itself from the related suspicions involving Star Mobility (formerly Interbuls), which caused controversy due to the Lime fund scandal.
Chairman Kim Yongbin stated on the 17th, “Korea Technology and Star Mobility, which have been mentioned in the media in connection with the Lime fund scandal, are completely unrelated companies,” adding, “We only had a stock transfer agreement with the former management of Interbuls, the predecessor of Star Mobility, but we have no acquaintance with the current management of Star Mobility.”
He continued, “The court decision has clearly drawn a line between us and Star Mobility,” and added, “We will firmly hold legally responsible those who shake the capital market with baseless rumors such as being affiliated companies with Star Mobility.”
Currently, Korea Technology is the domestic distributor for the global IT company Xiaomi. The company offers various Xiaomi products in Korea, including 5G smartphones, fans, scales, portable batteries, CCTV, and wearable devices.
Additionally, its subsidiary Daewoo Shipbuilding & Marine Engineering Construction is sailing smoothly after successfully securing various new orders in both public and private sectors. Currently, Daewoo Shipbuilding & Marine Engineering Construction’s order backlog exceeds 1 trillion KRW, and the company is aggressively pursuing new orders with a target backlog of 1.5 trillion KRW.
Chairman Kim said, “Korea Technology will focus on the 5G IT business and Daewoo Shipbuilding & Marine Engineering Construction’s civil engineering and construction business, aiming to announce good results by the end of the year and to open the era of 1 trillion KRW in sales within a few years,” clearly stating the plan to continue future growth engines through ‘selection and concentration.’
Regarding Korea Corporation, an affiliated company, he stated that it has become a completely different company due to the emergence of a new owner.
Chairman Kim said, “The protest lawsuits filed by minority shareholders of Korea Corporation are expected to end soon, and since it has already become a different company through a public sale, it is anticipated that there will be no impact on Korea Technology or others.”
Meanwhile, Korea Technology announced on the 11th that it will pay the remaining balance to Star Mobility and acquire all remaining shares of Korea Invest. This is in accordance with the court ruling on the claim for the stock purchase price filed by Star Mobility against the company. Korea Invest is the largest shareholder of Daewoo Shipbuilding & Marine Engineering Construction.
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