LifeSemantics merges with SphereKorea... "Succession of global space launch business primary vendor status"

Life Semantics announced on the 12th that it will merge with Sphere Korea.

Through this merger, Life Semantics will secure the position of a primary vendor for a global space launch company. Life Semantics will continue to exist while Sphere Korea will be dissolved, with a merger ratio of 1 to 164.6090535.

Sphere Korea is a primary vendor for a global private aerospace company. It is the only supplier in the Asia region of special alloys, which are key components of technically demanding rocket launch vehicles.

Choi Kwang-su, CEO of Life Semantics, also serves as CEO of Sphere Korea and has embarked on a new business in the Space Aerospace Distribution Center (SDC). Currently, Life Semantics is pursuing the acquisition of the SDC primary vendor code. The company plans to establish a supply chain handling various parts by securing diversified raw materials and material sources.

A company official stated, “Sphere Korea’s sales up to the third quarter of this year reached 65 billion KRW, a growth of approximately 437% compared to last year,” and added, “Given the steep growth, synergy effects related to the new business are expected.”

He continued, “We completed funding and financial structure improvement work in the second half of this year,” and explained, “From the first quarter of next year when the merger is completed, sales from the existing digital healthcare business will be supplemented by sales from the aerospace new business, making a turnaround to profitability expected next year.”

Through this merger, the two companies will strengthen their business capabilities by establishing facilities and equipment related to the storage, processing, and testing of aerospace special alloy materials and raw materials. They also plan to seek more collaboration opportunities with leading global companies.