EWK Completes Payment for Third-Party Allotment Capital Increase... "Secures Funds for New Business Promotion"

[Asia Economy Reporter Jang Hyowon] EWK has secured investment funds for new business through a third-party allotment paid-in capital increase.

EWK announced on the 27th that the payment for the 14.6 billion KRW third-party allotment paid-in capital increase targeting TMC, Green Tech System, Homecast, WSA Capital Partners Limited, and Michael Kwon has been completed.

With this capital increase, EWK plans to make full-scale investments in the new aviation business it is pursuing. In October last year, EWK held an extraordinary general meeting of shareholders, added aerospace-related business objectives, and recruited industry experts to the board of directors, signaling the launch of the new business.

Subsequently, in December last year, EWK signed a memorandum of understanding (MOU) with World Star Aviation (WSA), a UK aircraft leasing and rental company, to enter the aircraft maintenance business.

Homecast participated in this capital increase to collaborate in areas such as communication systems in the Unmanned Aircraft Traffic Management (UTM) field. In addition, WSA Capital Partners Limited, established by key executives of WSA, a strategic partner, also participated to strengthen the cooperative relationship.

A company official stated, “Full-scale investment in the new aviation business, encompassing finance, solutions, and services, will proceed,” adding, “In the future, we plan to expand into related businesses such as aircraft modification, parts, leasing, as well as UTM.”