Gemvax Link held an extraordinary general meeting of shareholders on the 15th to appoint new directors and outside directors and announced on the 18th that it had added business objectives for autonomous driving business development and business diversification.
At the extraordinary general meeting, Gemvax Link reappointed CEO Hwang Jeong-il and appointed James Feng, Chairman of Pony.ai, as a new director. Tian Gao, Vice President of Pony.ai, and Leo Wang, Chief Financial Officer (CFO), were appointed as outside directors.
Chairman James Feng is expected to lead the entry into the Korean market with his experience leading a global autonomous driving company.
On the 13th of last month, Gemvax Link and Pony.ai signed a formal contract to establish a domestic joint venture (JV), "Pony.ai Mobility Co., Ltd.," with each investing 50% of the shares. The two companies plan to start Level 4 (highly automated) autonomous taxi services in Korea and expand the business to unmanned buses and transportation services.
With the expansion into the autonomous driving business, Gemvax Link added business objectives such as vehicle information business, autonomous driving software development, and other transportation-related services at the extraordinary general meeting.
CEO Hwang Jeong-il said, "Preparations for establishing the joint venture are progressing smoothly," and added, "With the full support of minority shareholders, we will accelerate not only our existing business but also the promotion of the new autonomous driving business."
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