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Industry

SKC wins 1.17 trillion won rights offering to speed glass substrate investment

SKC said on May 18 its 1.17 trillion won rights offering drew strong demand, with an existing shareholders’ subscription rate of 113 percent and an employee share plan rate of 131.4 percent. It said expectations for earnings improvement and a shift toward semiconductors supported demand. SKC will allocate 589.6 billion won to Absolics, its glass substrate investment unit, and use 577.5 billion won to repay borrowings. It expects its debt ratio to fall to about 129 percent.

AI & Enterprise

Yanolja posts 236.7 billion won Q1 revenue, up 8.5 percent

Yanolja said on Thursday its first-quarter consolidated revenue rose 8.5 percent from a year earlier to 236.7 billion won. Adjusted EBITDA was 5.8 billion won, which it said was affected by upfront investment spending to internalise AI and data capabilities and volatility in the global travel market. Total transaction value grew 31.9 percent to 9.5 trillion won, with overseas accounting for 76 percent.

Industry

Tmap Mobility Q1 revenue 62.2 billion won, up 4.3 percent on year

Tmap Mobility said on May 14 it posted first-quarter revenue of 62.2 billion won, up 4.3 percent from a year earlier. Earnings before interest, taxes, depreciation and amortisation improved by 1.7 billion won from a year earlier. The company said expanding businesses centred on mobility data and AI helped improve profitability. Growth was led by mobility data and solutions, while TMAP AUTO and API and data businesses also rose.