EM&I, CB Payment Date Correction "Pursuing Diversification of Issuance Targets... Expecting Smooth Progress in New Business"

Organic light-emitting diode (OLED) material company EM&I announced on the 29th that it will change the payment date of its 13th series convertible bonds (CB) worth 5 billion KRW to May 29, 2024.

An EM&I official stated, "As we recently attracted institutional funds for the first time, more institutions are showing interest in new businesses," adding, "In the process of coordinating new payers in addition to the existing ones, we decided to revise the payment date."

EM&I recorded a cumulative separate basis profit in the third quarter and is sequentially progressing with new businesses in India. Currently, it is pursuing approval from the Heavy Water Board (HWB) under the Indian government to supply heavy water from Korea, which is necessary for the OLED process.

Once approval for supplying heavy water from Korea is obtained from HWB, it will be possible to supply key raw materials for OLED materials such as 'dimethyl sulfoxide (DMSO-D6)' and 'benzene-D6' at low cost using heavy water. The company explained that this will significantly boost the OLED material business. This is a policy to establish differentiated competitiveness in line with the opening of the global medium-to-large OLED market.

The company added, "Currently, heavy water worldwide is distributed by only a few companies, but as demand for heavy water increases, competition to secure key raw materials is expected to intensify," and "After obtaining HWB supply approval, we will focus our capabilities to grow EM&I's core business division."

Meanwhile, the company is also establishing a local corporation in India and preparing for the distribution of batteries and electric motorcycles.