| Related party transactions and balances |
29. Related party transactions and balances Details of related party transactions for the years ended December 31, 2023, and 2022 are as follows:
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|
| |
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|
|
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|
(Unit: USD) |
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| |
|
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9,142 |
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|
— |
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|
|
— |
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|
|
— |
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|
BioX |
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|
421,009 |
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|
1,863 |
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— |
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|
366,026 |
|
Related parties |
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|
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— |
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— |
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— |
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|
27,997 |
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|
|
|
|
— |
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— |
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— |
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35,308 |
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|
|
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Total |
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430,151 |
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1,863 |
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|
|
— |
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|
429,331 |
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| |
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(Unit: USD) |
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| |
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|
Related parties |
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9,267 |
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— |
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|
— |
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|
— |
|
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|
BioX |
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|
464,400 |
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|
1,473 |
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— |
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|
264,874 |
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Total |
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473,667 |
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1,473 |
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|
— |
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|
264,874 |
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| The details of receivable and payable to related parties are as of December 31, 2023, and 2022, are as follows:
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| |
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|
(Unit: USD) |
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| |
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|
BioX(*)(**) |
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236,853 |
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— |
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16,158 |
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— |
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1,249,928 |
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|
212,298 |
|
|
|
|
— |
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|
— |
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|
— |
|
|
|
— |
|
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|
68,129 |
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|
28,253 |
|
Korea Networks |
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|
— |
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|
— |
|
|
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— |
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|
|
— |
|
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1,121,029 |
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|
— |
|
Ertughrul, Orhan |
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— |
|
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— |
|
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— |
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|
— |
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|
244,914 |
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|
20,566 |
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— |
|
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|
— |
|
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— |
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— |
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|
332,736 |
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69,488 |
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Total |
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236,853 |
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— |
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|
16,158 |
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— |
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3,016,736 |
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330,605 |
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| (*) |
The Company has recognized an allowance for doubtful accounts of USD 230,498 for the outstanding balance of accounts receivable USD 467,351. |
| (**) |
On February 9, 2023, the Company entered into an agreement with BioX to transfer its ownership of the assets related to Trinit (subsequently renamed Yongsan Holdings Co., Ltd.). The Company has recognized a full allowance for doubtful accounts on the entire outstanding balance of USD 4,091,557 as it is doubtful that BioX will collect the deposit from Yongsan Holdings Co., Ltd. |
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| |
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|
(Unit: USD) |
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| |
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|
|
|
|
|
|
|
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|
|
|
|
|
|
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|
453,686 |
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|
|
— |
|
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— |
|
|
|
— |
|
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|
— |
|
|
|
— |
|
BioX |
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|
— |
|
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|
237,729 |
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|
65 |
|
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|
— |
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|
940,091 |
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|
155,421 |
|
Korea Networks |
|
|
— |
|
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|
— |
|
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|
— |
|
|
|
— |
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|
1,070,045 |
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|
— |
|
Ertughrul, Orhan |
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— |
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— |
|
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|
— |
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|
— |
|
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|
47,551 |
|
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|
10,462 |
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|
— |
|
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|
— |
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|
— |
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— |
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|
290,163 |
|
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|
53,180 |
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Total |
|
|
453,686 |
|
|
|
237,729 |
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|
|
65 |
|
|
|
— |
|
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|
2,347,850 |
|
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|
219,063 |
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|
| Compensation for key management for the years ended December 31, 2023, and 2022, are as follows:
|
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|
|
|
|
|
|
|
| |
|
|
|
|
(Unit: USD) |
|
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|
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|
Salaries |
|
|
1,120,768 |
|
|
|
970,234 |
|
Retirement benefit |
|
|
231,146 |
|
|
|
185,970 |
|
|
|
|
|
|
|
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Total |
|
|
1,351,914 |
|
|
|
1,156,204 |
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| Key management include directors (including non-executive directors) and auditors who have significant authority and responsibility for the planning, operation, and control of our activities. |