OKONG TS Corp. announced that it has received KRW 2.83 billion in funding from Okong Corp. and other investors.
June 03, 2013 at 05:00 am
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Okong Total Sales Co., Ltd. announced a private placement of 23,740 common shares at planned price of KRW 119,000 for gross proceeds of KRW 2,825,060,000 on April 26, 2013. The transaction will include participation from existing shareholders including parent, Okong Corp. The issue price will be confirmed on June 3, 2013. 0.2 new shares will be issued for every existing share held. The subscription period will start on May 28, 2013 and end on May 31, 2013. The payment date is June 3, 2013. Forfeited shares will be treated unissued shares. The board of directors of Okong Corp. approved the transaction. The company reported total assets of KRW 32,384,464,744 for the year ended 2012.
On June 3, 2013, Okong Total Sales Co., Ltd. closed the transaction.
OKONG Corporation is a Korea-based company mainly engaged in the manufacture and distribution of adhesives and glazing agents together with its subsidiaries. The Companyâs products portfolio consists of vinyl acetate resin emulsion adhesives used for wood processing, interior decoration, wall paper and floor sticking, paper processing and others; synthetic rubber adhesives, which are for leathers, rubbers, automobile interiors and polyvinyl chloride (PVC) general use, and hot-melt adhesives used for sealing and bonding of automobile assemblies, lamps manufacturing, hygienic goods manufacturing and others. In addition, it involves in the manufacture of other adhesives and related items, such as epoxy resin based adhesives, cyanoacrylate, waxes, rubbing compounds, sealants, tapes and others. It also provides maintenance and repairing products, and engages in the real estate rental business. On June 16, 2014, it merged with Samsung tape co.ltd.
OKONG CORPORATION 
