YapX Raises 50 Billion KRW in Funding... Issues Convertible Bonds to Meritz Securities

[Asia Economy Reporter Jang Hyowon] YapX (CEO Choi Simyeong), a KOSDAQ-listed company, announced on the 30th that it will issue the 20th and 21st series convertible bonds to Meritz Securities, raising a total of 50 billion KRW. Based on the raised funds, the company plans to strengthen the competitiveness of its existing manufacturing business centered on the fine chemicals business and to actively launch new businesses such as building Internet of Things (IoT) infrastructure focused on small business stores nationwide.

The 20th and 21st series convertible bonds, which will be issued separately in amounts of 20 billion KRW and 30 billion KRW respectively, both have a coupon rate of 2% and a maturity interest rate of 4%, with the payment date set for October 8.

YapX plans to expand the capacity of its existing business sectors centered on secondary battery, semiconductor, and display patented materials secured through its subsidiary Technium using the raised funds. Additionally, through the IoT infrastructure construction being promoted as a new business sector, the company intends to supply large-scale non-face-to-face ordering functions using smartphones and indoor navigation functions in small business stores such as cafes and restaurants nationwide.

The company expects that once the infrastructure expansion is actively promoted by supplying IoT beacon devices in small business stores at major hubs nationwide, consumer accessibility, which was inconvenient due to the need to download and install separate applications for each store to use existing smart order systems or various benefits, will be greatly improved. In particular, it is anticipated that the non-face-to-face system, which most small business stores nationwide could not access due to cost and other issues, will also be widely activated.

Choi Simyeong, CEO of YapX, stated, “The patented technologies that YapX and Technium are expanding the application scope of have the advantage of improving not only performance but also price competitiveness compared to existing products. If we complete our own mass production system in the future, we will be able to secure a unique market position.” He added, “We plan to expand our growth foundation through strengthening existing business sectors and investing in the IoT new business sector, which has been recognized for its technological capabilities.”