Orbitech Withdraws 10 Billion KRW Scale Paid-in Capital Increase

Orbitek announced on the 3rd that it will withdraw its decision to conduct a third-party allotment capital increase worth 10 billion KRW. On December 23 of last year, Orbitek decided on a third-party allotment capital increase to raise operating funds and funds for acquiring securities of other companies from Genensel New Technology No.1 Association and Mr. Park Jin-woo.

The company stated, "We are withdrawing the capital increase due to the notification of inability to pay from the third-party allotment recipients, Genensel New Technology No.1 Association and Park Jin-woo."