New Power Plasma "No Truth to Internal Transaction Slush Fund Allegations"

New Power Plasma clarified on the 2nd that it has no connection whatsoever and that the claims are completely unfounded regarding allegations that it created slush funds through internal transactions.

The previous day, a media outlet reported that prosecutors had launched an investigation after detecting signs that a semiconductor equipment company in Jeonbuk sold internal equipment at a low price to an affiliate of its largest shareholder, thereby creating slush funds. The company stated that New Power Plasma was mentioned as the related company in the report, leading to a flood of inquiries from investors.

A representative of New Power Plasma explained, “The article about internal transactions between our company and affiliates is not true. The New Power Plasma affiliated company operating the Iksan plant is NP Energy (CEO Wi Sun-im), whereas the company mentioned in the article is NPE (CEO Kim Dong-seop), which is completely unrelated.”

The representative added, “We suspect the error arose simply because the English names of the affiliated company in question and the actual trading company are similar. Regarding the actual transaction, our company sold existing factory (formerly Nexolon) equipment as scrap materials/waste equipment to NP Energy, which operates a factory in a different business area to secure manufacturing space. NP Energy then sold it to a Chinese company (Hangzhou Sepin), as confirmed.”

The company further stated, “Currently, there has been no contact or investigation request from the prosecutors (Gunsan District Prosecutors' Office), but if requested, we will actively cooperate with the investigation.”