| Summary of borrowings |
Borrowings as of December 31, 2023, are as follows:
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(Unit: USD) |
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Short-term borrowings |
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SBI Savings Bank |
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9.37% |
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672,059 |
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KEB Hana Bank |
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5.59% |
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1,158,722 |
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Whale Investment |
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8.00% |
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3,476,165 |
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Samsung Securities Co., Ltd |
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6.0% |
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619,916 |
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Powergen |
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11.0% |
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749,307 |
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Ulmus-Solon Technology Investment Partnership 1st Joint Business Execution Cooperative |
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6.00% |
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247,966 |
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Yu Ha Asset |
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12.00% |
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772,481 |
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William Isam Company |
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4.00% |
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190,632 |
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BioX |
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5.0% |
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314,846 |
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Others |
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1%~36% |
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5,309,225 |
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Subtotal |
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13,511,319 |
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Current portion of long-term liabilities |
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United asset management Ltd. |
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6~7.38% |
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1,620,136 |
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Convertible bond |
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Charm Savings Bank |
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10.0% |
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1,961,792 |
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Long-term Borrowings |
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KEB Hana Bank |
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5.90% |
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4,248,646 |
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Others |
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2.5~5% |
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615,727 |
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Subtotal |
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4,864,373 |
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Total |
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21,957,620 |
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| (*) |
On August 21, 2023, Charm Savings Bank and Bluming Innovation Co., Ltd (“Purchaser”) executed a convertible bond purchase agreement for the sale and transfer of a convertible bond with an aggregate principal amount of $1,931,203, equivalent to KRW 2,500,000,000 to the Purchaser. Joon Soo Jeon and Daesun, Inc. purchased CB from Bluming Innovation for amounts of $1,004,226, equivalent to KRW 1,300,000,000 and $926,977, equivalent to KRW 1,200,000,000 on February 19 and April 1, 2024, respectively. As the maturity extended, Joon Soo Jeon and Daesun, Inc. are in discussion with the Company to convert the CB into common shares of the Company. | Borrowings as of December 31, 2022, are as follows:
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(Unit: USD) |
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Short-term borrowings |
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Whale No.1 M&A Private Equity Joint Venture for Small and Medium Enterprises |
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8.00% |
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3,565,938 |
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Medium Enterprises Samsung Securities Co., Ltd. |
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6.00% |
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635,926 |
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Ulmus-Solon Technology Investment Partnership 1st Joint Business Execution Cooperative |
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6.00% |
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254,370 |
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6.00% |
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132,177 |
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Han Partners |
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6.00% |
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82,611 |
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6.00% |
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66,089 |
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6.00% |
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8,262 |
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Kookmin Bank |
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8.15% |
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285,275 |
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8.15% |
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|
633,945 |
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Sung Soo Lee |
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7.90% |
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2,377,292 |
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SBI savings bank |
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7.38% |
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729,036 |
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William Isam Company |
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4.00% |
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189,407 |
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Others |
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5.00% |
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2,903,178 |
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Subtotal |
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11,863,506 |
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Current portion of long-term liabilities |
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United asset management Ltd. |
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6~7.38% |
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2,001,142 |
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Long-term Borrowings |
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MG Saemaul Credit Union (Sannam) |
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9.00% |
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3,565,938 |
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MG Saemaul Credit Union (Sannam) |
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8.70% |
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792,431 |
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Others |
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2.50% |
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45,397 |
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Others |
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5.00% |
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337,592 |
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Subtotal |
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4,741,358 |
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Total |
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18,606,006 |
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