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 dollars and Seoul Optodevice issued 2.7 million shares at 5.870 dollars per share for a total of $16 million dollars.
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
Date Nov, 25, 2009 Contact information Seoul Semiconductor Market Group / Daniel Park / +82-31-364-3789 / firstname.lastname@example.org PR Agency of Seoul Semiconductor / Minbok Song / +82-2-3210-9680 / email@example.com