Solueta Becomes Largest Shareholder of Dasan Networks... "Emerges as Key Affiliate and Strengthens Governance"

[Asia Economy Reporter Hyunseok Yoo] Solueta announced on the 31st that it will acquire an 11.4% stake in Dasan Networks held by Dasan Invest for 48.48 billion KRW.

The company stated, "As the largest shareholder of Dasan Networks, we will secure the status of a key affiliate and acquire a high-quality subsidiary in terms of business and asset value, which is expected to help enhance corporate value," adding, "We will accelerate growth as a global materials and components company."

Solueta is expanding its business areas from its existing mobile phone electromagnetic shielding materials to materials and components for automobiles and 5G network equipment. After this share acquisition, it plans to further accelerate growth as a global materials and components company through cooperation among affiliates.

On the same day, Dasan Networks announced that it sold its 29.97% stake in Solueta to Dasan Invest, making Dasan Invest the largest shareholder of Solueta. Through this, the governance structure will change to Dasan Invest - Solueta - Dasan Networks.

Subsequently, Solueta plans to gradually promote the efficiency of subsidiary governance to strengthen profitability and improve financial structure. It is reviewing the listing, external investment attraction, and sale of subsidiaries, and especially plans to actively pursue IPOs (Initial Public Offerings) of subsidiaries that have achieved stable performance.

A company official said, "This share acquisition is part of securing Solueta’s future growth strategy, and we will strive for company growth and profitability improvement through active entry into new businesses in the future."