Medicox Establishes 100% Owned Hong Kong Subsidiary... Smooth Progress in Attracting Overseas Investment

KOSDAQ-listed company Medicox announced on the 27th that it will establish a local Hong Kong corporation, Future Tech Asia Network, with 100% equity investment. Medicox plans to attract fund investments from Hong Kong-based investment firms through this corporation in the future.

Medicox stated that investment attraction with Hong Kong investment firms is currently progressing smoothly, and the establishment of a wholly-owned subsidiary in Hong Kong is expected to facilitate investment attraction even further.

In addition to attracting investments, the Hong Kong corporation is expected to contribute to securing cutting-edge facilities and technological capabilities, which are core to the ‘customized secondary battery business’ being promoted with Eocell, including ▲battery cell R&D and technology competitiveness ▲global sales network expansion.

In February, Medicox strengthened its human infrastructure by appointing global technology experts and investment specialists as outside directors through an extraordinary general meeting of shareholders. The establishment of the Hong Kong corporation is also a step to secure competitiveness in the customized secondary battery business, with plans to pursue advanced technology acquisition, overseas investment attraction, and expansion of sales strategies going forward.

A Medicox representative said, “Through the newly established Hong Kong local corporation, we expect global investment attraction from Singapore, Malaysia, China, Hong Kong, and other regions to become more active,” adding, “This will be an opportunity for the customized secondary battery business to advance to the next stage.”