Fact Source: Financial Supervisory Service DART
💡 3-Second Summary
Samsung Electro-Mechanics decided to acquire a 66.2% stake in a newly established joint venture, (tentatively named) Glassem Co., Ltd., with Dongwoo Fine-Chem by contributing KRW 319.1B (KRW 239.1B in cash and KRW 80B in-kind) to capture the glass substrate market.
📊 [Summary of Key Disclosure Facts & Figures]
1. Target Entity Overview
- Company Name: (Tentative) Glassem Co., Ltd.
- Nationality: Republic of Korea
- Representative: Lee Dong-woo
- Capital Stock: KRW 482,100,000,000
- Core Business: Glass Core manufacturing and sales
- Relationship with Disclosing Company: –
- Total Issued Shares: 96,420,000 shares
2. Acquisition Details & Scale
- Number of Shares to Acquire: 63,820,000 shares
- Acquisition Amount: KRW 319,100,000,000
- Equity Capital of Disclosing Company: KRW 9,797,343,882,863
- Acquisition Amount to Equity Ratio: 3.3%
- Total Assets at Most Recent Fiscal Year-End: KRW 14,595,895,255,468
- Acquisition Amount to Total Assets Ratio: 2.2%
- Large Scale Enterprise Status: Applicable
3. Ownership Status Post-Acquisition
- Number of Shares Owned: 63,820,000 shares
- Equity Ratio: 66.2%
4. Method, Purpose & Expected Date
- Method: Cash and In-kind Investment (KRW 239.1B cash / KRW 80B in-kind)
- Purpose: Establishment of a joint venture with Dongwoo Fine-Chem Co., Ltd. (subsidiary of Japan’s Sumitomo Chemical) to capture the glass substrate market
- Scheduled Acquisition Date (Payment Date): 2026-09-01
5. Option Agreements (Call / Put Options)
- Call Option (Samsung Electro-Mechanics): After 5 years from establishment, if no agreement is reached during the deadlock resolution period, Samsung Electro-Mechanics can request Dongwoo Fine-Chem to sell all its shares in the JV at 120% of the evaluated per-share value determined by an accounting firm.
- Put Option (Dongwoo Fine-Chem): After 5 years from establishment, if no agreement is reached during the deadlock resolution period, Dongwoo Fine-Chem can request Samsung Electro-Mechanics to purchase all its shares in the JV at 80% of the evaluated per-share value determined by an accounting firm.
6. Administrative & Regulatory Information
- Subject to Major Matters Report (Asset Acquisition): No
- Backdoor Listing Applicable: No
- Third-Party Allotment Capital Increase Plan within 6 Months: No
- Board Resolution Date: 2026-07-02 (4 Outside Directors attended)
- Subject to Fair Trade Commission Filing: No
7. Other Key Investment Notes
- The target company name is tentative and subject to change upon establishment.
- Financial statements are omitted as the company is a newly established entity.
- Board resolution details are subject to partial changes during the establishment process.
📝 Editor’s Comment (Key Follow-up Checkpoint)
📌 Verification of Capital Contribution Payment and Entity Status in Official Filings
This disclosure pertains to establishing a new joint venture and acquiring its shares to pursue the glass substrate business. Verifying whether the capital contribution is paid as scheduled and whether the entity establishment is completed is essential for confirming the actual closing of the transaction. The status and ownership details can be verified in subsequent amended filings after the target date (2026-09-01) and upcoming Quarterly, Half-Year, or Annual Reports.
📢 Disclaimer & Source Information
Source: This content was newly structured and generated based on official submission data from the Financial Supervisory Service’s Data Analysis, Retrieval and Transfer System (DART).
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