Irangtec Completes 1 Billion KRW Investment Attraction from KDB Industrial Bank through Convertible Bond Issuance

[Asia Economy Reporter Hyunseok Yoo] Irangtec announced on the 3rd that it successfully attracted an investment of 1 billion KRW from KDB Industrial Bank through the issuance of convertible bonds.

Irangtec is a 5G communication component specialist company that professionally manufactures RF (Radio Frequency) filters, which are core parts of mobile communication base stations and repeater equipment. It has developed the ‘High PIMD Solution Multiplexer Filter,’ which integrates multiple frequencies of telecom operators while eliminating noise, and supplies it to domestic and international mobile carriers.

An Irangtec official stated, “This investment attraction was carried out to expand 5G filter production capacity,” adding, “The secured funds will be used for factory acquisition and purchase of machinery and equipment.”

He continued, “Despite the difficult market environment caused by COVID-19, we were able to secure long-term funding under favorable conditions by gaining recognition for our technological capabilities,” and explained, “We will actively work to enhance shareholder value through increased corporate value such as sales expansion next year.”

Meanwhile, Irangtec is also a company invested in by AT Semicon, a KOSDAQ-listed company, in June.