Vessel Subsidiary SKCS Advances as IT Advanced Materials Company... "Aiming for KOSDAQ Transfer Listing"

[Asia Economy Reporter Jang Hyowon] Vessel subsidiary SKCS (CEO Cho Kyungjin) announced on the 28th that it is set to make a full-scale entry into the IT advanced materials market.

A company official stated, "The new IT materials we have been developing will be launched starting next year," and added, "Materials with low dielectric constants for high-frequency bands essential in the 5G era, materials for vehicle mobility, and film materials for media home appliances converging with IT will continue to be released, driving the company's growth."

Established in 2004, SKCS is the first KONEX technology-specialized listed company and operates in the manufacturing of optical films for displays. It is also a subsidiary of Vessel, which is listed on KOSDAQ.

When SKCS faced an existential crisis due to the sudden passing of its founder, CEO Kang Sanggu, shareholders and creditors approached Vessel’s CEO Seo Giman to request acquisition and management.

Vessel, which designs and develops display and semiconductor manufacturing equipment, was looking for a materials company that could create synergy with its equipment development business. CEO Seo participated in management by acquiring the debt and converting it into equity, and directly acquiring existing shares from major shareholders.

Cho Kyungjin, CEO of SKCS, said, "Even after Vessel acquired the company, no artificial restructuring was done," adding, "I, who was the sales director at the time, was appointed as CEO, and Vessel focused on management efficiency to support the company so it could concentrate on new product R&D."

SKCS, which had continued sales mainly with outdoor media films, was able to launch Korea’s first silver nano film proven to have antibacterial and antiviral effects thanks to these efforts. This silver nano film was supplied to the Bangkok subway construction and Starbucks in Thailand, gaining recognition in the global market.

CEO Cho added, "We are currently in the final stages of exclusive supply contract negotiations with a global pharmaceutical bio company," and said, "It is expected to be used in hospital operating rooms and sterile rooms in research facilities."

The company expects to turn a profit this year after four consecutive years of losses. According to the corporate status report submitted to the Korea Exchange, SKCS recorded sales of 9.35 billion KRW, operating profit of 1.05 billion KRW, and net profit of 860 million KRW as of the end of June.

CEO Cho said, "Our goal is to transfer-list on the KOSDAQ market in 2023," and added, "Inox Advanced Materials and Taepax are expected to be comparable companies upon listing." He also mentioned, "We are planning external funding for new product development and the transfer listing."