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AI & Enterprise

ITCEN CTS to issue 5 billion won convertible bonds to ITCEN Global, repay debt

ITCEN CTS said on Monday it will issue 5 billion won ($3.7 million) of convertible bonds to its largest shareholder, ITCEN Global, and use the entire proceeds to repay borrowings. The company said ITCEN Global will subscribe to the full amount, with payment due on Sept. 16. ITCEN CTS said the funds will be used to repay part of a general loan from a financial institution, not for new business investment or working capital.

People & Appointments

ITCEN CTS named \'Gruteogi Honors Partner\' by Youth Gruteogi Foundation

ITCEN CTS said on Aug. 24 it has reached 100 million won in cumulative donations through “Sangsang Oneul,” a support project run with the Youth Gruteogi Foundation for young people preparing for independence. The company said it has provided scholarships to 4 students and completed housing environment upgrades for 32 rooms at a self-reliance facility in Busan. It also said it ran mentoring programs and was named a “Gruteogi Honors Partner.”

AI & Enterprise

ITCEN Global posts first-half revenue of 5.58 trillion won, operating profit 107.5 billion won

ITCEN Global said on Aug. 13 its consolidated first-half revenue totalled 5.58 trillion won, up about 92 percent from a year earlier. The company said growth was supported by balanced gains in its Web3 and IT services businesses, including units such as Korea Gold Exchange, ITCEN CTS and ITCEN ENTECH. Operating profit rose 94 percent to 107.5 billion won and net profit increased 153 percent to 109.8 billion won.