Dabolink Adds Resource Development Business Purpose... "Hong Kong MG Group Executive Appointment Planned"

Davolink announced on the 28th that it plans to add resource development and other business purposes at the extraordinary general meeting of shareholders on the 8th of next month, and appoint Chua Yong How, Chief Marketing Officer of MG Group from Singapore, as an outside director.

According to the Financial Supervisory Service's electronic disclosure system, Davolink announced on the 21st the resolution to convene an extraordinary general meeting of shareholders and revealed plans to appoint new internal and external directors. It also proposed an agenda to add resource development and other purposes to its business objectives.

Chua Yong How, who was nominated as an outside director candidate at this shareholders' meeting, is currently serving as the Chief Marketing Officer (CMO) of MG Group in Hong Kong. MG Group is a global conglomerate holding company established in 2001, engaged in various businesses including real estate, finance, and investment.

MG Metal, a subsidiary of MG Group, is conducting resource development in Canada and other regions, and is a full member of the Hong Kong Gold Exchange (CGSE), qualified to produce and distribute gold that meets international standards.

According to the company, MG Metal is developing a platform and kiosks for gold trading and plans to launch a new form of gold-backed financial service called MGDG (MG Digital Gold) in the future.

Davolink plans to explore new business opportunities in the resource development sector and strengthen its competitiveness in the global market through cooperation with MG Group.

At this shareholders' meeting, Davolink also plans to appoint director candidates with experience and expertise in various fields such as IT and the legal sector, in addition to Chua Yong How.

Lee Ki-wook, KT Service advisor, who has been nominated as CEO, is expected to greatly contribute to strengthening Davolink’s core business by leveraging his extensive experience in telecommunications and smart factory businesses. It is reported that after the shareholders' meeting, Advisor Lee is preparing an investor relations (IR) presentation that can create synergy with Davolink’s business based on his experience and expertise.

A Davolink official stated, “We expect that the new directors with diverse experience and expertise will lead Davolink’s management stability and innovation,” adding, “Through this change, we anticipate that Davolink will be able to strengthen its position in the global market.”