Stage Five Removed from Large Business Group Affiliation... "This Year Marks the First Year of Profit Turnaround"

StageX, preparing to launch as the fourth mobile carrier, announced on the 30th that its parent company, StageFive, has been excluded from the large business group affiliates after a review by the Fair Trade Commission.

Seo Sang-won, CEO of StageX, attended the 'StageX Media Day' held on the 7th at Fairmont Ambassador Seoul in Yeouido, Seoul, introducing the 28GHz communication business strategy. Photo by Kang Jin-hyung aymsdream@

StageFive revealed last December that it restructured its governance, with an employee participation investment association becoming the largest shareholder. Following the removal of control requirements and the Fair Trade Commission's review, the separation from the affiliate group was completed.

The company plans to strengthen its competitiveness to respond quickly to rapid market changes. It aims to make decisions and shift business directions more swiftly, while seeking and executing more diverse and innovative business opportunities.

This year is set as the inaugural year for turning a profit, with plans to drive overall business performance in areas such as △pricing plans △devices △roaming. Additionally, being released from the large business group affiliation allows the company to utilize institutional support available to venture companies, marking an environmental change.

StageX is also determined to successfully complete preparations as the fourth mobile carrier. Since establishing the preparatory corporation on the 19th, it has secured the necessary funds for frequency payment and completed preparations for a paid-in capital increase before payment.

With StageFive's removal from the large business group affiliates, it is expected that StageX's fundraising will accelerate. The lifting of cross-shareholding restrictions has made the fundraising environment more flexible. StageX has announced that it has formed a consortium with strategic investors (SIs), including Shinhan Investment Corp., the financial investment lead manager.

Seo Sang-won, CEO of StageFive, stated, "We will pursue more responsible management and proactive business operations."