Home Appliance Firm Moves into Batteries, Security Firm Embraces AI... Government Approves Business Restructuring for Two Companies
DK and Pishio's Business Restructuring Plans Approved
481 Billion Won Investment and 99 New Hires Over Five Years
The government will support business restructuring for companies entering new industries such as battery cooling components and artificial intelligence (AI)-based network security technology.
The Ministry of Trade, Industry and Energy announced on September 30 that it held the 54th Business Restructuring Plan Review Committee meeting and approved the business restructuring plans for DK Co., Ltd. and Pishio Co., Ltd., enabling their entry into new industries. Over the next five years, the two companies plan to invest a total of 4.81 billion won and hire 99 new employees.
DK, a home appliance manufacturer, will develop cooling plates used in electric vehicle batteries and energy storage systems (ESS) to enter the battery component market. The company aims to expand its business into the battery sector by leveraging its existing expertise in home appliance manufacturing.
Pishio, a network security company, will integrate AI-powered video data compression technology into its existing security solutions. Based on this, the company plans to develop integrated security solutions and supply them to the relevant market.
Kim Juhun, a civilian member of the Business Restructuring Plan Review Committee, said, "We highly value the efforts of companies pursuing business restructuring to respond to the rapid changes in the economic environment and technology," adding, "The government should continue to strengthen support to ensure the success of corporate restructuring."
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An official from the ministry stated, "Through proactive restructuring, we will continue to expand incentives such as restructuring consulting, research and development (R&D), and fund support so that companies can achieve results as quickly as possible."
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