[Asia Economy Reporter Lim Chun-han] Korea Center announced on the 10th that it held a board meeting and resolved to attract 60 billion KRW in external capital.
Korea Center explained, "The investment will proceed through the issuance of Convertible Preferred Shares (CPS)," and added, "This investment involved domestic mid-sized private equity fund (PEF) management companies J&KC and Daishin SKS Innovation No. 2."
The total Convertible Preferred Shares (CPS) amount to 8,264,462 shares, with a mandatory holding period of one year. The 40 billion KRW investment will be used as M&A funds necessary for advancing the e-commerce ecosystem business, and 20 billion KRW will be used as operating funds for business advancement and global market entry, including the Southeast Asian market. It is expected that continuous business advancement will further enhance growth potential and profitability. By raising funds through CPS, capital adequacy will also improve. Since CPS has no redemption obligation, it is fully recognized as capital.
Kim Gi-rok, CEO of Korea Center, said, "We are pleased to be recognized and trusted for our overwhelming competitiveness, including the e-commerce solutions we have secured and the industry's only overseas logistics fulfillment," and added, "With unique business advancement, growth potential and profitability will further increase."
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