InscoBi Chairman Yoon In-su: "Excessive Concerns Over Convertible Bonds Maturity... No Repayment Issues"

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"InscoBee has long been preparing through the sale of non-core assets and is currently in the final stages, so there is no problem with repayment."

Yoo In-su, Chairman of InscoBi. Photo by InscoBi

Yoo In-su, chairman of InscoBee, said this in an interview with Asia Economy on the 23rd.

InscoBee is approaching the maturity of convertible bonds (CB) totaling 10.17 billion KRW, including approximately 5.37 billion KRW of the 30th series CB and 4.8 billion KRW of the 31st series CB. Excluding 800 million KRW of the 31st series CB held internally, the actual amount to be repaid is 9.37 billion KRW. The maturity date of these CBs is next month on the 5th. There are concerns in the market that repayment might be difficult due to InscoBee’s liquidity deterioration.

InscoBee argues that the market’s concerns are excessive. First, its subsidiary Pritelcom achieved profitability last year and continues to perform well this year. In addition, overseas sales of cosmetics are showing remarkable growth, emphasizing that business diversification and sales structure diversification are being realized.

Chairman Yoo stated, "I believe the current market concerns are excessive," and emphasized, "Our group’s subsidiaries have cash-generating capabilities and can secure sufficient liquidity through affiliates that play a cash flow role in promoting new businesses." He added, "Regarding non-core assets, some transactions have not yet been finalized, some are at the final approval stage, and some are awaiting payment."

Chairman Yoo recently took a leading role in management to enhance management efficiency and crisis response capabilities. He said, "Until now, we operated under a professional management system to maximize expertise in different business areas," adding, "This time, it is to overcome the disadvantages that may arise in that process and to strengthen management efficiency and crisis response capabilities according to the vision and goals of the entire group." He further stated, "The goal is to break away from the negative image of the past and enhance the competitiveness of the entire group."

Along with this, the company plans to actively utilize artificial intelligence (AI) to secure growth engines. He explained, "To secure business opportunities related to the data center market, which can be called an AI-related infrastructure business, we participated in equity for the establishment of a data center authorized by Busan City last year," adding, "This is to pioneer the intelligent power data processing and power efficiency market by combining InscoBee’s core competency in power-saving technology with AI."

He also plans to apply AI to the bio sector. He emphasized, "We are focusing on developing AI diagnostic technology and are conducting technology exchanges with leading overseas universities and medical institutions," adding, "We plan to advance our bio business to the next level and enhance competitiveness in the global market."

Chairman Yoo plans to strengthen the competitiveness of existing businesses as well as new businesses for sustainable growth. He said, "We will focus on securing future growth engines through new technology development and business diversification suitable for the Fourth Industrial Revolution era," and added, "We also plan to strengthen the competitiveness of existing businesses such as budget phone services, smart grids, and bio to further develop our strengths."