Haitisen Global accelerates digital transformation by issuing 40 billion Korean won in convertible bonds

ITCEN Global has decided to issue convertible bonds totaling 40 billion Korean won to raise funds, thereby strengthening its financial structure and accelerating the expansion of new businesses based on digital assets.

On the 4th, ITCEN Global announced that it will issue convertible bonds worth 40 billion Korean won. The investment will be made through ITC Holdings Limited Partnership, which is wholly owned by KCGI Innovation Growth ESG No.1 Private Equity Investment Joint Venture. Convertible bonds are a type of bond that can be converted into stock under certain conditions; from a corporate perspective, they are seen as a means to enhance financing flexibility.

Behind this investment is the financial strength of a large private equity fund managed by KCGI. The investing entity, KCGI Innovation Growth ESG PEF, is a blind pool fund with a scale of 500 billion Korean won. A blind pool fund is a method where investment targets are not specified in advance; instead, funds are raised first and then invested in promising companies. This indicates that KCGI valued ITCEN Global’s growth potential and business expansion capabilities, which led to this capital injection.

ITCEN Global plans to use the secured funds not only for operational expenses but also for business restructuring. Based on its existing information technology services business, the company views security token offerings (STO— a method of trading securities created from physical assets or rights in digital form) and the Web3 sector as the next-generation growth engines. Recently, within the domestic financial and information technology industries, as the digital asset regulatory framework has been undergoing rectification, competition to dominate related infrastructure has become increasingly fierce. This financing also strongly aligns with this trend.

The company expects that once the digital asset-related institutional frameworks are established in the second half of the year, it will be able to formally advance its Web3 business. KCGI also stated that it will not be merely a financial investor but a long-term partner, jointly building a new standard for Korea’s digital financial infrastructure. This trend may further trigger investments by information technology companies into digital finance, depending on the pace of regulatory improvements and market demand growth.