ICH announced on the 3rd that it held a board meeting on the 2nd and decided to conduct a paid-in capital increase of 544,081 common shares (approximately 2 billion KRW) targeting its executives and employees. The paid-in capital increase will involve participation from executives including CEO Kim Young-hoon, the largest shareholder, as well as the employee stock ownership association.
The issue price is 3,676 KRW per share, and the allocated shares will be subject to a one-year lock-up period.
The company explained that the participation of executives and employees in the paid-in capital increase signifies confidence in ICH's future growth potential. A company representative stated, "This demonstrates a strong belief in the company's growth and a firm commitment to restoring market trust," adding, "The funds will be used for additional facility investments and the reinforcement of expert personnel."
He further said, "ICH has made large-scale investments aimed at expanding production facilities and acquiring additional equipment to solidify its future growth potential," and added, "As we have been preparing to expand into future growth industries as well as our existing business, we expect a performance turnaround starting from the fourth quarter of this year through next year."
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