Polaris Office injects 5 billion KRW into affiliate Polaris Sewon... "Securing growth momentum"

Polaris Office has taken steps to support the growth of its affiliates. Polaris Sewon announced on the 24th that it has decided to conduct a third-party allotment paid-in capital increase worth approximately 5 billion KRW targeting its largest shareholder, Polaris Office.

Through this capital increase, Polaris Sewon will issue 2,259,377 new shares. The scheduled payment date is June 22. After the payment, Polaris Office's stake in Polaris Sewon will be 19.99% (10,235,353 shares).

A representative from Polaris Office stated, "This decision is aimed at strengthening competitiveness and maximizing corporate value at the group level," adding, "As the largest shareholder, we are continuously reviewing ways to grow together through responsible management of our affiliates."

The Polaris Office Group recorded strong performance across the board in the first quarter of this year.

Polaris Office posted a consolidated net profit of 28.2 billion KRW, a 1093% increase compared to the same period last year, driven by gains from the sale of investment stakes. Revenue and operating profit also rose by 13% and 9%, reaching 7.2 billion KRW and 600 million KRW, respectively. The company is currently pursuing external growth through its AI (Artificial Intelligence) office business. Polaris Sewon and Polaris Uno have also recorded steady revenue growth each quarter.

A representative from Polaris Sewon said, "Orders for electric vehicle air conditioning parts are actively continuing in the automotive air conditioning components business division, and we are making efforts to ensure these results quickly become visible in our performance."