On April 21, Jaeyoung Solutec announced that it had received the remaining payment for the sale of its Namdong plant in Incheon and completed the transaction. The secured funds will be used to repay borrowings, which is expected to strengthen the company’s financial soundness.
The plant, located in Namdong-gu, Incheon Metropolitan City, has a land area of approximately 1,404 pyeong (4,632 square meters) and a building area of about 2,308 pyeong (7,616 square meters). The market value is around 16 billion won. The sale was carried out to enhance financial soundness and improve production structure efficiency.
Jaeyoung Solutec currently supplies actuators for most models in the Samsung Galaxy series, except for foldable models. With the expansion of optical image stabilization (OIS) adoption even in mid- to low-priced smartphones, the company achieved its highest-ever operating profit last year.
A Jaeyoung Solutec official stated, "As borrowings decrease, interest expenses will also be reduced, which is expected to have a positive impact on the overall profit and loss structure. We aim to further enhance our corporate value based on OIS competitiveness and financial soundness."
Meanwhile, Jaeyoung Solutec is also pursuing the sale of its Asan plant, which became an idle asset following the discontinuation of its mold business last year. The plant, located in Asan, Chungcheongnam-do, has a land area of approximately 13,187 pyeong (43,594 square meters) and a building area of about 3,008 pyeong (9,942 square meters).
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