SEOUL, SOUTH KOREA -- 11/25/09 --
Seoul Semiconductor Co., Ltd. (CEO Chung
Hoon Lee, www.acriche.com), the world's #4 LED manufacturer, and its
affiliate company, Seoul Optodevice Co., Ltd. (President Se Yong Oh,
www.socled.co.kr) raise $248 million in capital. Seoul Semiconductor
issued 6.9 million shares at 33.565 dollars per share for a total of $232
million and Seoul Optodevice issued 2.7 million shares at 5.870 dollars per
share for a total of $16 million.
Officials of Seoul Semiconductor and Seoul Optodevice indicate that these
funds will be used for addressing increased product demands. This demand
is due in part to the efficiency improvements and market acceptance of
Acriche, and the patent cross-license agreement with the Nichia Corporation
of Japan. This infusion of capital, by Singapore's sovereign wealth fund,
was based on the business potential and growth opportunities for Seoul
Semiconductor and Seoul Optodevice in the lighting market place. The
ability to easily and quickly address expansion requirements with capital
equipment and infrastructure will clearly strengthen Seoul Semiconductor
and Seoul Optodevice as a world's leading LED manufacturer.
According to IMS Research, a British electronics market research agency,
Seoul Semiconductor is ranked fourth globally as a world renowned LED
company with more than 5,000 patents. Seoul Semiconductor owns
internationally-recognized technology such as Acriche, developed by its own
original technology, Deep UV LED and Non-Polar LED implementations. The
company runs 30 overseas operations, including 3 subsidiaries, and 114
worldwide distributor locations.
* Exchange rate : USD 1 = KRW 1,150
Contact information:
Seoul Semiconductor Market Group
Daniel Park
+82-31-364-3789
Email Contact
PR Agency of Seoul Semiconductor
Minbok Song
+82-2-3210-9680
Email Contact
