[Featured Stock] Glovon Rises on Appointment of Green Science Executive as Inside Director

[Asia Economy Reporter Jang Hyowon] Glovon is showing strong performance following the news that Lee Bongju, CEO of Green Science acquired by the company earlier this year, will be appointed as an inside director.

As of 1:33 PM on the 18th, Glovon is trading at 4,385 KRW, up 13.02% compared to the previous day.

Glovon will appoint three inside directors and one outside director at the regular shareholders' meeting on the 25th. Along with CEO Lee, Han Sangyoung, President of Glovon and an unregistered executive, and Jung Soyeon, Executive Officer of Glovon's Fund Management Department, have been nominated as inside director candidates. The outside director candidate is Park Hyokyung, Advisory Chairman of the Korea Journalists Association. The board of directors will be expanded from the current three members to seven.

Earlier this year, Glovon acquired 51% of the shares of Green Science, owned by plasma scientist Dr. Lee Bongju of Handong University. Dr. Lee will focus on research and development (R&D), while Glovon will handle capital, sales, and marketing to actively advance the green environmental energy business.

Gangwon Province plans to invest a total of 272.7 billion KRW (57.7 billion KRW from the national government, 54 billion KRW from local government, and 161 billion KRW from the private sector) by 2025 to establish a plasma green hydrogen cluster in the Taebaek City area. The province expects visible effects on revitalizing the local economy, including attracting 30 companies, creating 500 new jobs, and training 1,000 hydrogen sector specialists.