Completion of Samkwang 3 Companies Merger, Launch of Eco-Friendly Integrated Energy Company 'SGC'

Growth as a Comprehensive Energy Company Based on Renewable Energy
New Name of the Merged Corporation of Gunjang Energy, E-Tech Construction, and Samkwang Glass: 'SGC Energy'
SGC's Commitment to Continuous Growth and Change

[Asia Economy Reporter Oh Ju-yeon] Gunjang Energy, together with E-Tech Construction and Samkwang Glass, has completed the merger and spin-off merger of their investment business divisions and launched as 'SGC Energy.'

On the 2nd, E-Tech Construction held an SGC CI declaration ceremony and announced the start of a new leap forward through continuous growth and change. It explained that based on the stable business structure and financial stability held by SGC Energy, the investment assets owned by each company have been unified to maximize synergy. Additionally, each company has laid the foundation to focus its capabilities on strengthening the competitiveness of its core business and achieve significant growth.

SGC Energy CEO Ahn Chan-gyu said, "SGC operates energy, construction, glass, and resource businesses," adding, "Based on that know-how and technological capability, we will advance as a global comprehensive energy company based on renewable energy."

He continued, "SGC plans to take the lead as a representative player in the Green New Deal, which aims to respond to climate change and environmental issues," and stated, "We will continue to grow steadily as a comprehensive energy company based on renewable energy such as hydrogen fuel cells and wind power generation in the future."

The SGC logotype symbolizes 'the three companies Gunjang Energy, E-Tech Construction, and Samkwang Glass connected like a chain into a complete whole,' embodying the meaning of 'continuous growth and change.'

SGC consists of the business holding company SGC Energy (formerly Gunjang Energy) as the core, along with SGC E-Tech Construction (formerly E-Tech Construction), SGC Solution (formerly Samkwang Glass), SGC Green Power (formerly SMG Energy), and SGC Development (formerly SG Development). SGC Energy and SGC E-Tech Construction are listed on the KOSPI and KOSDAQ markets, respectively.

SGC Energy is a future-oriented energy operator participating in low-carbon green industrial complexes by reducing greenhouse gas emissions through the use of biomass fuel. Additionally, a power plant using 100% renewable energy is scheduled to be completed next year, steadily advancing toward sustainable development centered on the environment and people.

SGC E-Tech Construction has been able to focus its capabilities on securing competitiveness centered on the steadily growing civil engineering business and the expanding plant business in overseas markets. This year, its construction capability evaluation ranking has risen to 15th in plants and 42nd in civil engineering and architecture, with an order backlog of about 3 trillion won. Recently, it also secured abundant cash liquidity by selling land in the Incheon Hakik district, which it owned, for 97.4 billion won.

SGC Solution has reached a new leap as a manufacturer that not only expands sales of B2C product lines including 'Glasslock,' a world-renowned glass airtight container brand, but also provides optimal solutions stably in the B2B sector such as bottle glass manufacturing.

Through the business restructuring centered on SGC Energy, transparency and efficiency in management will be enhanced, and a system capable of responding quickly to external environmental changes will be established. Furthermore, by unifying the investment division as a merged corporation, efficient allocation of capital and integration of dispersed human and financial resources across each company will enable a focus on securing business competitiveness. The company stated, "Through this, we expect the overall value of SGC to increase."