Medicox, Recruits Global Influential Figure as Outside Director... Overseas Investment Attraction Imminent

Medicox announced on the 14th through a public disclosure that it has proposed the agenda to newly appoint two outside directors at the extraordinary general meeting of shareholders to be held on the 29th.

The outside director candidates are Chong Man Sui, a technology expert and former chairman of Dragon Group International, and Fong Wai Leong, an investment expert and current CEO of Malaysian investment firms Halforet and Avillion Berhad. They are expected to significantly contribute to securing technological competitiveness and attracting overseas investment for the 'customized secondary battery business' that Medicox is promoting in cooperation with the U.S. battery specialist company, EOSiCell.

Chong Man Sui is an engineering expert with over 38 years of experience in the semiconductor and IT fields, having been active in product development and marketing in the Hong Kong and China markets. Dragon Group International is a semiconductor and electronic components manufacturer listed in Singapore. Established in 1990, it is headquartered in Singapore and has expanded into China, Hong Kong, and Taiwan. It is a co-majority shareholder of EOSiCell.

Fong Wai Leong is a global investment expert with over 30 years of experience in finance and investment. He has advisory experience in investment, IPOs, and M&A across China, Malaysia, Thailand, Singapore, South Africa, and South America. He is also recognized for having a rich global investment infrastructure, participating on the boards of private companies in Hong Kong, Thailand, Vietnam, Indonesia, Cambodia, as well as listed companies in Malaysia and Singapore.

He is currently the CEO of Avillion Berhad, a hotel and real estate company listed on Bursa Malaysia, and is involved in the management of Pelikan International, a stationery company listed on Bursa Malaysia, and Oceancash Pacific, Southeast Asia's largest felt company. Additionally, he is a certified Malaysian accountant with four years of auditing experience at KPMG and four years as an investment expert at CIMB.

Medicox CEO Hyun Kyung-seok stated, “All outside director candidates have extensive global investment infrastructure and business experience in Singapore, Malaysia, China, Hong Kong, and other regions. We expect to receive know-how from them that can ensure the success of our currently promoted customized secondary battery business,” adding, “Funding activities through various channels such as overseas funds will gain momentum.”

For the success of the customized secondary battery business promoted by Medicox and EOSiCell, “securing state-of-the-art facilities and technological capabilities” is the top priority. There is no problem securing initial manufacturing volume as EOSiCell, the business partner, is receiving a flood of orders for electrode bodies.

Medicox already secured a site of approximately 29,400㎡ in Yangsan, Gyeongnam, last December. There is also no issue with securing technological capabilities. EOSiCell, led by a development team from Samsung SDI, possesses excellent technological capabilities and has already been validated through the operation of a secondary battery pilot line.