Jisun Co., Ltd. (CEO Dong-jin Han), a specialized company in convergence security solutions, and Kiwoom 8th SPAC (446840) announced that the merger agenda of the two companies was approved at the extraordinary general meeting of shareholders held on the 26th.
In this merger, which is being conducted in the form of a SPAC, the surviving company is Kiwoom 8th SPAC, and the merger ratio between Kiwoom 8th SPAC and Jisun is 1 to 2.8500190. Kiwoom 8th SPAC will continue to trade without a trading suspension, and the listing date of the merged new shares is scheduled for August 14.
Founded in 2000, Jisun is a specialized integrated security solution company that develops and supplies solutions to respond to new security threats that are difficult to detect, such as wireless wiretapping, wireless backdoor hacking, and illegal filming. Based on its own technology, it holds more than 30 patents and is expanding its customer base to major public institutions such as the Office of the President, the National Assembly, and the Ministry of National Defense, as well as the financial sector and the private sector.
Representative products include the AI-based wireless wiretapping defense system 'Alpha-I', the wireless backdoor detection system 'Alpha-H', and the illegal filming detection system 'Alpha-C'. The company is expanding its business areas centered on its main product groups, and in particular, it is securing technological superiority in response to the UWB (ultra-wideband) method with high detection difficulty, voice AI discrimination, and constant remote monitoring.
Based on technological reliability, Jison has a stable profit structure with sales based on maintenance and rentals in addition to product sales. Sales, which were approximately KRW 9.4 billion in 2022, are expected to more than double in three years and reach approximately KRW 23.6 billion this year. Sales diversification from the public sector to the private and overseas markets is also in progress.
Jisun CEO Han Dong-jin said, “Amid the government’s policy direction to respond to various security threats such as digital sex crimes, illegal filming, and cyber attacks, interest in Jisun’s security technology is also growing,” and “Based on technology and business references, we have secured momentum for full-scale performance growth along with policy benefits.”
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