News & Topics

Oct. 30, 2020

Formal Agreement about Management Integration between AISIN KOREA and AW KOREA

Since Aisin group companies based in South Korea, AISIN KOREA CO., LTD. (hereinafter, AKC) (head office: Gangnam, Seoul, Korea; president: Kazuhiro Mitsuda) and AW KOREA CO., LTD. (hereinafter, AW-K) (head office: Yeouido, Seoul, Korea; president: Yoshinari Kuwayama), Aisin Seiki Co., Ltd., the parent company of AKC and Aisin AW Co., Ltd, the parent company of AW-K, have reached a basic agreement to enter into discussion on business integration in July 23,2020, AKC and AW-K have been studying the business integration in January 2021. We are pleased to inform you that we have signed a merger agreement regarding the merger of the two companies and the change of the new company to AISIN KOREA CORPORATION.

Aisin will continue to work as a group, aiming to transform into a corporate structure with high profitability, and will continue to consider effective function aggregation and consolidation.

(1)Business integration schedule

 Basic agreement conclusion date (2 companies) July 23, 2020
 Merger agreement conclusion date (2 companies) October 26, 2020
 Effective date  January 1, 2021(scheduled date)


(2)Business integration method

We plan to merge with AW-K as the surviving company and AKC as the extinguished company. (There is no change in location or business description due to this merger.)


(3)Overview of the new integrated company

Company name AISIN KOREA CORPORATION
Location of Head Office 11 Yeongdeungpo Bank Road, Seoul Special City, Republic of Korea
Capital 112.5million won
Shareholder composition

Aisin AW Co., Ltd. 89%
Aisin Seiki Co., Ltd. 11%

Number of employees 18 (Scheduled for January 2021)
Business description

1.Market research and sales support for automobile parts

2.Car navigation development support

 

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