Wellkeeps Hightech concludes 3rd hearing with DB Global Chip... 4th hearing scheduled for May

KOSDAQ-listed company Wellkeeps Hightech (CEO Park Ki-tae) announced on the 27th that it has concluded the third hearing with DB Global Chip.

Wellkeeps Hightech completed the third hearing with DB Global Chip at the Seoul Central District Court (30th Civil Division) in Seocho-dong, Seocho-gu, Seoul on the same day. The legal dispute, which began in October last year, is expected to proceed to at least a fourth hearing. The fourth hearing is scheduled for 2:10 PM on May 8 at the same location.

Wellkeeps Hightech had disclosed through the Financial Supervisory Service's electronic disclosure system that DB Global Chip filed for a provisional seizure of claims worth approximately 8.9 billion KRW due to some defects in the Chip-on-Film (COF) supplied for over a decade as of April last year.

A representative of Wellkeeps Hightech stated, “It was a process to confirm the differences in perspectives,” and added, “We will do our best to ensure that the company’s grievances and regrettable aspects are thoroughly expressed through our legal representatives in the upcoming trials.”