Coretec Group Inc (CE) (CRTG) ニュース

Other Markets (Decision on granting improvement period) 1-17-2025

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Previous filng from the KRX and KIB getting listed again . We havnt seen an update on their listing status yet as the KRX was supposed to make a decision , "

In accordance with this decision, the Korea Exchange will decide whether to delist the company's stocks, whether to grant an improvement period, whether to suspend trading, and the period, etc., within 20 business days (2025.1.17) from the date of this decision, pursuant to Article 51 of the Enforcement Rules of the Listing Regulations of the Korea Exchange.

Notice on Other Matters (Disclosure of KRX)
1. Title Notice on Decision of Subject of Review by the Corporate Review Committee for Substantive Review of KIB Plug Energy Co., Ltd.’s Listing Eligibility (2024.12.18)
2. Details KIB Plug Energy Co., Ltd. disclosed the ‘embezzlement and breach of trust suspicion’ (2024.11.27), and the reason for substantive review of listing eligibility arose. The Korea Exchange decided to review the company by the Corporate Review Committee (2024.12.18) in accordance with Article 48, Paragraph 2 and Article 49, Paragraph 1 of the Listing Regulations of the Korea Exchange.

In accordance with this decision, the Korea Exchange will decide whether to delist the company's stocks, whether to grant an improvement period, whether to suspend trading, and the period, etc., within 20 business days (2025.1.17) from the date of this decision, pursuant to Article 51 of the Enforcement Rules of the Listing Regulations of the Korea Exchange.

(Korea Exchange)
3. Other references useful for making investment decisions -
? Title and date of other disclosure related to this one 2024-11-27 Other market information (occurrence of reasons for substantive examination of listing eligibility)

? Grant of stock options

A. Summary of the necessity of granting stock purchase options

To be promoted as part of a program to reward executives and employees who have contributed or are likely to contribute to the company's management and to achieve the company's mid- to long-term management goals.

B. Name of the person to be granted stock options

Name Position Position Shares to be granted
Type of shares Number of shares

Kim Seon-gi Executive Director CEO Common shares 1,200,000 (Coretecs Seon kee Kim)

Baek Seung-ryun Executive Director CEO Common shares 1,000,000 ( the 2nd CEO of KIB along with Coretecs Seon kee Kim they probably want one in Korea and one in the USA )

Baek Yeong-gi Executive Director President Common shares 700,000
Lee Ji-young Executive Vice President Common shares 500,000
Yoon Chang-an Executive Director Managing Director Common shares 300,000
Jin Woo-yeon Executive Director Managing Director Common shares 300,000
Park Sang-jun Executive Director Managing Director Common shares 300,000
Kim Jeong-hoon Executive Director Managing Director Common shares 250,000
Eom Hong-jin Executive Director Managing Director Common shares 250,000
Kim Dong-hoon Executive Director Managing Director Common shares 250,000
??? and 143 other employees - Common shares 8,815,000
Total (154) people

Common shares Total (13,865,000) shares

D. Outline of the method of granting stock purchase options, the type and number of shares to be granted upon exercise, the exercise price, exercise period, and other conditions

Classification Contents Remarks
Granting method: Issuing new shares -
Type and number of shares to be granted Type of shares: Common stock
Number of shares: 13,865,000 shares -
Exercise price and exercise period Exercise price: KRW 518
Exercise period: March 28, 2027
~ March 28, 2033 -
Outline of other conditions Details related to granting stock purchase options
are subject to the relevant laws and Article 9-3 of our Articles of Incorporation. -

D. Summary of the details of the remaining stock purchase options as of the most recent date and the granting, exercise, and expiration of the stock purchase options in the most recent year

- Details of the remaining stock purchase options as of the most recent date

Total issued
Number of shares Grantable
Range of shares Grantable
Type of shares Grantable
Number of shares Remaining
Number of shares
236,981,544 15% of the total number of issued shares Common stock 35,547,231 shares 35,397,231 shares

- Details of the granting, exercise, and expiration of stock purchase options for the most recent two fiscal years and the fiscal year in question

Fiscal year Grant date Number of grantees Type of shares Granted
Number of shares Exercised
Number of shares Expired
Number of shares Remaining
Number of shares
2024 - - Common stock - 50,000 200,000 100,000
2023 - - Common stock - - 1,400,000 350,000
2022 - - Common stock - - 300,000 1,750,000
Total - Total ( 0 ) Common stock Total ( 0 ) shares Total (50,000) shares Total (1,900,000) shares Total (100,000) shares

? Other notes

- The above stock purchase option grant is a special resolution of the general shareholders' meeting and may change depending on the approval process of the regular shareholders' meeting.
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? Appointment of audit committee members

A. Name of candidate, date of birth, recommender, relationship with largest shareholder, whether outside director candidate, etc.

Candidate name Date of birth Outside director
Whether candidate Audit committee member
Whether directors are elected separately Relationship with largest shareholder Recommender
Im Tae-sang 58.09.22 Female Not applicable Not applicable Listed Company Council
(Outside Director Human Resources Bank)
Yoo Young-sun 60.05.20 - Not applicable Not applicable Board of Directors
Kwon Oh-sun 57.02.20 Female Not applicable Listed Company Council
(Outside Director Human Resources Bank)
Total (3) persons

B. Candidate's main occupation, detailed career, and transaction history with the relevant corporation for the past 3 years

Candidate's name Main occupation Detailed career Transaction history with the relevant corporation for the past 3 years
Period Contents
Im Tae-sang Small Business Specialist 2016 ~ Present LG Household & Health Care, Pyeon Co., Ltd. Sales Management
Public Institution Specialist None
Yoo Young-sun Hapcheon Food Co., Ltd. CFO Vice President 2023 ~ Present
2020 ~ 202
2018 ~ 2019
2009 ~ 2015
Hapcheon Food Co., Ltd. CFO Vice President
Samtech Co., Ltd. Vice President
KH Chemical (now 'Cobon') CEO
Hana Bank Chief Financial Officer
None
Kwon Oh-sun Management Consulting, Evaluation Committee 2007 ~ Present

2005 ~ Present

NGB Management Consulting Co., Ltd., Korea Management Technology, etc. Consulting
Korea Agency for Technology and Standards, Korea Industrial Evaluation and Management Institute, etc. Evaluation Committee None

D. Whether the candidate has defaulted on his/her taxes, is an executive of an insolvent company, or is there any reason for disqualification under the law

Candidate Name Whether the candidate has defaulted on his/her taxes, is an executive of an insolvent company, or is there any reason for disqualification under the law
Im Tae-sang None applicable None applicable None applicable
Yoo Young-sun None applicable None applicable None applicable
Kwon Oh-sun None applicable None applicable None applicable

D. Reasons for the Board of Directors' Recommendation of the Candidate

*Im Tae-sang Candidate
The candidate is a candidate recommended by the Listed Companies Council (Outside Director Human Resources Bank).

*Yoo Young-sun Candidate

1. This candidate is aware of the duties of an outside director under the Commercial Act, such as the duty of care, duty of loyalty, duty of reporting, duty of monitoring, duty of monitoring mutual business execution, duty of non-competition, duty of non-self-dealing, and duty of compliance with trade secrets, and will strictly comply with them. 2. Based on my diverse experiences, I will enhance the diversity of the board of directors, and perform my independent duties as an outside director by presenting professional opinions and expressing my opinions in the committees of the board of directors, and while representing the interests of shareholders and society, I will resolve major management issues for the long-term growth of the company and maximizing corporate value.

* Candidate Kwon Oh-sun
The candidate is a candidate recommended by the Listed Companies Council (Outside Director Human Resources Bank).

Written Confirmation

Image: Candidate Im Tae-sang Confirmation

Candidate Im Tae-sang Confirmation

Image: Candidate Yoo Young-sun Confirmation

Candidate Yoo Young-sun Confirmation

Image: Candidate Kwon Oh-sun Confirmation

Candidate Kwon Oh-sun Confirmation

? Approval of directors’ remuneration limit


? Approval of directors’ remuneration limit

A. Number of directors, total remuneration or maximum limit

(Current period)

Number of directors (Number of outside directors) 10(4)
Total remuneration or maximum limit 2,000,000,000 won

(Previous period)

Number of directors (Number of outside directors) 6(3)
Total remuneration actually paid 727,432,930
Maximum limit 2,000,000,000 won

? Changes to articles of incorporation

A. Amendments to the articles of incorporation to exclude concentrated voting or amendments to the articles of incorporation that exclude it

Purpose of change before and after the change
- - -

B. Other matters regarding changes to the articles of incorporation

Purpose of change before and after the change
Article 1 (Company Name)

This company shall be called “Kib Plug Energy Co., Ltd.”

In English, it shall be written as Kib plug energy Co., Ltd.

Article 4 (Method of Public Notice)

Public notices of this company shall be posted on the company’s Internet

homepage (http://www.kibplugenergy.com)

However, in cases where it is not possible to make a public notice on the company’s internet homepage due to computer failure or other unavoidable reasons, it shall be published in the Daily Korea Economic Daily published in Seoul (the successor newspaper in case of a merger or name change) and the Daily Gyeongsang Ilbo published in Ulsan Metropolitan City (the successor newspaper in case of a merger or name change).

No. 1 (Company Name)

This company shall be called “DKME Co., Ltd.”

In English, it shall be written as DKME Co., Ltd.

Article 4 (Method of Public Notice)

This company’s public notice shall be published on the company’s internet

homepage (http://www.dkme.com)

However, in the event that a notice cannot be posted on the company’s website due to computer failure or other unavoidable reasons, it shall be published in the Daily Korea Economic Daily published in Seoul (the successor newspaper in the event of a merger or name change) and the Daily Kyungsang Ilbo published in Ulsan Metropolitan City (the successor newspaper in the event of a merger or name change).

Change of name and website address
Article 24 (Appointment of Directors)

1. The company shall have at least 3 and no more than 7 directors, and outside directors shall be at least 1/4 of the total number of directors, and they shall be appointed at the general shareholders’ meeting.

? If a provision is added to the articles of incorporation stating that the board of directors may decide to distinguish between inside directors and other non-executive directors (other non-executive directors) among the directors in paragraph 1, the board of directors may make the distinction between inside directors and other non-executive directors.

2~5 Omitted

Article 24 (Appointment of Directors)

1. The Company shall have 3 to 10 directors, and outside directors shall be at least 1/4 of the total number of directors, and they shall be appointed at the general shareholders' meeting.
? If the Articles of Incorporation add a provision that allows the Board of Directors to decide on the distinction between inside directors and other non-executive directors (other non-executive directors) among the directors in Paragraph 1, the Board of Directors may elect inside directors and other non-executive directors separately.

2~5 Same as above

Change in the Limit for Appointment of Directors
Article 22-3 (Resolution on Dismissal of Auditors Before Their Term Ends, etc.)

In order to ensure stable management audit of directors, in cases where a resolution is made to dismiss an auditor before his term ends or to amend Article 22-3 of the Articles of Incorporation, the approval shall be obtained by at least 75/100 of the voting rights of shareholders present and at least 50/100 of the total number of issued shares.

Article 34 (Audit)
1. The Company shall have one auditor elected by the general shareholders' meeting, and the term of office shall be until the end of the regular shareholders' meeting regarding the final settlement period within three years after the inauguration.

2. In the event of a vacancy in the auditor's position, if the statutory number of auditors is not determined and there is no impediment to business performance, the by-election may be postponed until the next regular shareholders' meeting.

3. The term of office of the auditor elected by by-election shall be the same as the remaining term of office of the current auditor.

4. The appointment of an auditor shall be made by a majority of the voting rights of the shareholders present, but shall be at least one-fourth of the total number of issued shares. However, if voting rights are exercised electronically pursuant to Article 368-4, Paragraph 1 of the Commercial Act, the appointment of an auditor may be resolved by a majority of the voting rights of the shareholders present.

5. The auditor shall audit the company's accounting and business and may attend the board of directors meeting to state his/her opinion.

6. When the auditor determines that a director has committed an act in violation of laws or the Articles of Incorporation or is likely to commit such an act, he/she shall report this to the Board of Directors.

7. The auditor shall investigate the agenda and documents to be submitted by the director to the general shareholders’ meeting and state his/her opinion to the general shareholders’ meeting on whether there are any violations of laws or the Articles of Incorporation or any significantly unfair matters.

8. When necessary, the auditor may request the convocation of a board of directors’ meeting by submitting a written statement stating the purpose of the meeting and the reason for the convocation to the director.

9. If the director fails to convene a board of directors’ meeting without delay despite the request in Paragraph 7, the auditor who made the request may convene a board of directors’ meeting.

10. The auditor may request the convocation of an extraordinary general meeting by submitting a written statement stating the purpose of the meeting and the reason for the convocation to the Board of Directors.

11. When necessary for the performance of his/her duties, the auditor may request a business report from a subsidiary. In this case, when the subsidiary does not report without delay or when it is necessary to confirm the contents of the report, the subsidiary's business and financial status may be investigated.

12. The audit shall record the audit implementation method and results in the audit record, and the auditor who conducted the audit shall sign or stamp it.

13. The audit may seek professional assistance at the company's expense.

(Deleted) Deleted due to establishment of audit committee
Article 27 (Duties of directors)

1-3 Omitted

4. When a director discovers a fact that may cause significant damage to the company, he/she shall immediately report it to the auditor.

Article 30 (Convening of the board of directors)

1. Omitted

2. When convening a board of directors meeting, the date of the meeting shall be set and notice shall be given to each director and auditor one day in advance. However, this shall not apply if all directors and auditors agree.

3. Omitted

Article 32 (Minutes)

1. Omitted

2. The minutes shall record the summary of the proceedings and the results thereof, and the directors and auditors in attendance shall sign or stamp them and keep them at the head office.

Article 35 (Remuneration of Directors and Auditors)

1. The remuneration of directors and auditors shall be determined by a resolution of the general shareholders' meeting.

2. The payment of retirement pay for directors and auditors shall be made in accordance with the regulations on payment of retirement pay for executives after a resolution of the general shareholders' meeting.

3. Omitted

Article 38 (Preparation and keeping of financial statements and business reports)

1. The representative director of this company shall prepare the following documents and their attached statements and business reports and have them audited by the auditor at least 6 weeks prior to the date of the regular shareholders' meeting, and submit the following documents and business reports to the regular shareholders' meeting.

1) Balance sheet

2) Income statement

3) Other documents that indicate the company's financial status and

management performance, as prescribed by the Enforcement Decree of the Commercial Act

2. Omitted

3. The auditor shall submit an audit report to the representative director at least one week prior to the regular shareholders' meeting.

4~5 Omitted

Article 27 (Duties of Directors)

1~3 Same as above

4. When a director discovers a fact that may cause significant damage to the company, he/she shall immediately report it to the audit committee.

Article 30 (Convening of the Board of Directors)

1. Same as above

2. When convening a board of directors meeting, the date of the meeting shall be set and notice shall be given to each director one day in advance. However, this shall not apply if all directors agree. 3. Left

Article 32 (Minutes)

1. Left

2. The minutes shall record the summary of the proceedings and the results thereof, and the directors present shall sign or stamp them and keep them at the head office.

Article 35 (Remuneration of Directors)

1. The remuneration of directors shall be determined by a resolution of the general shareholders' meeting.
2. The payment of directors' retirement pay shall be made in accordance with the regulations on payment of executive retirement pay after a resolution of the general shareholders' meeting.
3. Left

Article 38 (Preparation and keeping of financial statements and business reports)

1. The representative director of this company shall prepare the following documents and their attached statements and business reports and have them audited by the audit committee at least 6 weeks prior to the date of the regular shareholders' meeting, and submit the following documents and business reports to the regular shareholders' meeting. 1) Balance sheet

2) Income statement

3) Other documents indicating the company's financial status and

management performance

as prescribed by the Enforcement Decree of the Commercial Act

2. Same as above

3. The audit committee shall submit an audit report to the CEO at least one week prior to the regular shareholders' meeting.

4~5 Same as above

Changes due to establishment of the audit committee

(Newly established)

Article 28-2 (Committee)

1. The following committees may be established within the board of directors by resolution of the board of directors.

1) Transparent Management Committee

2) Other committees deemed necessary by the board of directors

2. The board of directors shall determine the composition, authority, operation, etc. of each committee, except in cases where relevant laws and regulations provide otherwise.

3. The provisions of Articles 30 and 31 shall apply to the committees.

Article 28-3 (Audit Committee)

1. An audit committee may be established pursuant to Article 28-2 by resolution of the Board of Directors.

2. The audit committee shall perform its duties in accordance with the Audit Committee Regulations and resolutions.

3. The Board of Directors shall determine detailed matters regarding the composition and operation of the Audit Committee.

4. The provisions of Articles 30, 31, and 32 shall apply to the Audit Committee.

Article 28-4 (Transparent Management Committee)

1. A transparent management committee may be established pursuant to Article 28-2 by resolution of the Board of Directors.

2. The transparent management committee shall perform its duties in accordance with the Transparent Management Committee Regulations and resolutions.

3. Detailed matters regarding the composition and operation of the transparent management committee shall be determined by the Board of Directors.

4. The provisions of Articles 30, 31, and 32 shall apply to the Transparent Management Committee.

Establishing a basis for the establishment of a committee within the board of directors according to the Articles of Association

? Dismissal of directors

A. Name, date of birth, and recent key career of the person to be dismissed

Name of the person to be dismissed Date of birth Recent key career Expected expiration date of term
Choi Soo-hyun 79.04.18 Currently Vice President of KIB Energy Infrastructure Holdings
Former Team Leader of Daishin Securities
Former Team Leader of Hyundai Securities
2026.07.13
Son Kyo-deok 60.11.17 Former Outside Director of KDB Industrial Bank
Former Financial Innovation Committee Member of Hyundai Asset Management
Former Management Advisor of SK Securities
Former President of BNK Gyeongnam Bank
2026.07.13

B. Reasons for dismissal

Name of the person to be dismissed Reasons for dismissal
Choi Soo-hyun A party to the charges of embezzlement and breach of trust filed against the company and its subsidiaries
Son Kyo-deok Responsibility for failing to prevent the numerous complaints filed against the company as an outside director
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? Appointment of directors

A. Name of candidate, date of birth, recommender, relationship with largest shareholder, whether outside director candidate, etc.

Candidate name Date of birth Outside director
Whether candidate

Audit committee member

Director separate election

Relationship with largest shareholder Recommender
Im Tae-sang 58.09.22 Female Not applicable Not applicable Listed company council
(Outside director talent bank)
Kim Hyeong-gi 61.03.03 Female Not applicable Not applicable Board of directors
Kwon Oh-seon 57.02.20 Female Separate election Not applicable Listed company council
(Outside director talent bank)
Total (3) persons

B. Candidate's main occupation, detailed career, and transaction history with the relevant corporation for the past 3 years

Candidate's name Main occupation Detailed career Transaction history with the relevant corporation for the past 3 years
Period Contents
Im Tae-sang Small Business Specialist 2016 ~ Present LG Household & Health Care, Pyeon Co., Ltd. Sales Management
Public Institution Specialist None
Kim Hyung-ki Securities Economy Newspaper CEO 2020 ~ Present
2015 ~ 2019 Securities Economy Newspaper CEO
Focus News, Poly News, etc. Editor-in-Chief None
Kwon Oh-sun Management Consulting, Evaluation Committee 2007 ~ Present

2005 ~ Present

NGB Management Consulting Co., Ltd., Korea Management Technology, etc. Consulting
Korea Agency for Technology and Standards, Korea Industrial Evaluation and Management Institute, etc. Evaluation Committee None

D. Whether the candidate has defaulted on his/her taxes, is a member of an insolvent company, or is there any reason for disqualification under the law

Candidate Name Whether the candidate has defaulted on his/her taxes, is a member of an insolvent company, or is there any reason for disqualification under the law
Im Tae-sang None applicable None applicable None applicable
Kim Hyung-ki None applicable None applicable None applicable
Kwon Oh-sun None applicable None applicable None applicable

D. Candidate's job performance plan (limited to the case of appointment as an outside director)

*Im Tae-sang Candidate
1. Management supervision and audit
2. Providing opinions on management strategy and income
3. Preventing conflicts of interest
4. Maintaining relationships with shareholders
5. Ethical standards and legal compliance
6. Management support and advice, etc.

*Kwon Oh-sun Candidate
1. Introduction
This job performance plan contains specific job performance plans as an outside director to support the sustainable growth and innovation of your company and achieve the company's vision and goals.

2. Job objectives . Independently review management's decisions and provide advice. . Strengthen the company's risk management system to support stable operation. Based on ESG (Environment, Society, Governance) management principles, enhance sustainability. . Other tasks that the company requests as necessary, such as the role of an outside director, etc.
3. Detailed implementation plan . Management monitoring and advice: Support the management's decision-making through regular participation in the board of directors and review of major agenda items. . Risk management: Analyze the company's financial and operational risks and propose improvement measures. . Strengthen ESG management: Propose policies for developing environmentally friendly energy solutions and fulfilling social responsibilities, etc.
4. Expected effects . Enhance management transparency and reliability. . Establish a stable growth foundation by minimizing risks. . Increase corporate value through sustainable management.
5. Conclusion
As an outside director, I will contribute to the development of KIB Plug Energy Co., Ltd. based on my independence and expertise.

B. Reasons for the board of directors' recommendation of the candidate

* Candidate Tae-sang Lim
The candidate is a candidate recommended by the Listed Companies Council (Outside Director Human Resources Bank).

* Candidate Kim Hyung-ki
The candidate is expected to perform his duties sufficiently by improving the transparency and soundness of management based on his experience and knowledge, and he is expected to contribute to improving the value of the company in the mid- to long-term, so he was recommended.

* Candidate Kwon Oh-sun
The candidate is a candidate recommended by the Listed Companies Association (Outside Director Human Resources Bank).

Written Confirmation

Image: Candidate Lim Tae-sang Confirmation
Candidate Lim Tae-sang Confirmation

Image: Candidate Kim Hyung-ki Confirmation
Candidate Kim Hyung-ki Confirmation

Image: Candidate Kwon Oh-sun Confirmation
Candidate Kwon Oh-sun Confirmation

III. Description by Purpose of the General Shareholders’ Meeting

? Approval of separate financial statements

A. Overview of the business situation for the relevant fiscal year

[Chemical Equipment Sector]

(1) Characteristics of the Industry

The chemical equipment manufacturing industry is a type of PLANT (refinery, chemical) equipment industry and is closely related to facility investments in the domestic and international petrochemical industries. In the case of the plant industry, it is led by large EPC (Engineering Procurement Construction) companies, and generally, chemical equipment is ordered through leading domestic and international engineering companies, and products are manufactured in the order method through customized design for each project. Therefore, in order to smoothly proceed with the project, the ordering party prefers a manufacturer with existing transaction history, and since the design for each project equipment is different, there are limited companies that can perform the business in accordance with customer requirements.

(2) Industry Growth Potential

In the mid- to long-term, demand for energy and petrochemical products is expected to steadily increase due to global GDP growth and population expansion. In particular, oil-producing countries that depend on crude oil exports and have been suffering from deficits due to refining and chemically processed finished products are expanding their investments to establish direct processing facilities to secure higher profits and national competitiveness. Accordingly, major countries in the Middle East/Asia/North America are expected to expand investments in new chemical facilities and green hydrogen/green ammonia plants to respond to environmental regulations.

(3) Characteristics of economic fluctuations

The petrochemical industry is closely related to international oil prices, oil consumption/production, and investment plans of major crude oil and gas resource-holding countries, and is also affected by the flow of the petrochemical industry, which has a cyclical nature. In addition, it is closely related to the international situation and the balance of energy demand and supply.

(4) Competitive Factors
Due to the nature of the industry based on steel welding, the industry leadership is shifting similarly to the shipbuilding industry. The industry that started in the United States, then moved to Korea via Japan, and recently, competitors from China and India, who are emphasizing low labor costs for basic equipment for general steel grades, are emerging.
However, based on our manufacturing experience through technical partnerships with leading licensors for the production of various products, our company has secured high recognition from domestic and international customers based on our own development of special equipment, quality improvement and technological advancement, and unconditional compliance with delivery dates. We are committed to discovering new customers and conducting sales activities for existing customers to secure stable sales.

B. Separate and consolidated financial statements, comprehensive income statement, and statement of appropriation of retained earnings for the relevant fiscal year (draft)
? The following 44th separate and consolidated financial statements are data that have not been audited by an external auditor and are financial statements before approval by the general shareholders' meeting. The revised business report and audit report will be disclosed on the Financial Supervisory Service's electronic disclosure system.

- Consolidated Financial Statements



44th Period As of December 31, 2024
43rd Period As of December 31, 2023
(Unit: Won)
Item 44th Period 43rd Period
Assets

?. Current assets 144,003,165,188 143,157,237,723
1. Cash and cash equivalents 30,447,467,233 21,483,942,637
2. Trade receivables 21,032,415,203 19,535,358,365
3. Unclaimed work 55,234,055,464 45,166,385,449
4. Other receivables 23,086,663,829 46,475,422,405
5. Current income tax assets 61,002,658 57,452,574
6. Derivative assets - 315,972,255
7. Other Current Assets 2,272,030,833 3,444,549,860
8. Inventory Assets 11,369,529,968 6,678,154,178
9. Assets Held for Sale 500,000,000 -
?. Non-current assets 70,466,242,506 78,707,404,364
1. Other long-term receivables 5,387,647,264 6,030,395,668
2. Available-for-sale financial assets 2,856,999,342 225,000,000
3. Tangible assets 58,010,511,043 53,814,779,943
4. Intangible assets 49,842,500 60,602,658
5. Other non-current assets 14,431,250 72,156,250
6. Investments in related companies 181,269,466 18,504,469,845
7. Currency forward assets 3,965,541,641 -
Total assets 214,469,407,694 221,864,642,087
Liabilities

?. Current Liabilities 77,469,008,174 82,519,903,294
1. Trade Payables 23,556,305,882 20,211,804,407
2. Other Payables 7,919,983,589 9,063,663,214
3. Borrowings 35,500,000,000 30,963,960,000
4. Convertible Bonds - 4,670,896,192
5. Excess Billings 4,943,900,546 13,653,237,721
6. Provisions 2,206,259,097 3,456,855,182
7. Other Current Liabilities 596,474,418 499,486,578
8. Derivative Liabilities 2,746,084,642 -
?. Non-current liabilities 9,719,091,433 11,319,681,676
1. Long-term borrowings 7,000,000,000 7,208,470,000
2. Severance pay liabilities 1,003,930,831 2,207,016,891
3. Deferred corporate tax liabilities 1,667,326,641 1,667,326,641
4. Other non-current liabilities 46,776,475 236,868,144
5. Currency forward liabilities 1,057,486 -
Total liabilities 87,188,099,607 93,839,584,970
Capital

?. Capital stock 118,640,772,000 118,465,772,000
?. Capital surplus 7,655,913,343 7,530,663,343
?. Other capital (1,148,927,657) (153,577,657)
?. Retained earnings 2,133,550,401 2,182,199,431
Total capital 127,281,308,087 128,025,057,117
Total liabilities and capital 214,469,407,694 221,864,642,087

- Consolidated comprehensive income statement



44th period (from January 1, 2024 to December 31, 2024)
43rd period (from January 1, 2023 to December 31, 2023)
(Unit: KRW)
Item 44th period 43rd period
?. Sales 136,623,566,311 137,250,775,712
?. Cost of sales 113,023,267,712 107,969,385,912
?. Gross profit 23,600,298,599 29,281,389,800
?. Selling and administrative expenses 13,678,184,120 16,397,799,917
?. Operating profit 9,922,114,479 12,883,589,883
?. Other income 12,152,843,168 7,719,954,011
?. Other expenses 8,473,047,639 3,984,868,513
?. Financial income 4,294,415,546 3,484,091,581
?. Financial expenses 2,950,996,891 1,841,199,917
?. Equity method gains and losses (12,806,570,633) (1,758,534,082)
XI. Net income before income tax expense 2,138,758,030 16,503,032,963
XII. Income tax expense 1,010,981,043 2,001,821,937
XIII. Net income from continuing operations 1,127,776,987 14,501,211,026
XIV. Net income from discontinued operations - -
XV. Net income for the period 1,127,776,987 14,501,211,026
XVI. Other comprehensive income (2,124,174,567) 107,095,516
XVII. Total comprehensive income (996,397,580) 14,608,306,542
XVIII. Earnings per share

Basic earnings per share from continuing operations 4.9 61.8
Diluted earnings per share from continuing operations 4.9 61.8
Basic earnings per share from discontinued operations - -
Diluted earnings per share from discontinued operations - -

- Separate financial statements



44th period As of December 31, 2024
43rd period As of December 31, 2023
(Unit: KRW)
Item 44th period 43rd period
Assets

?. Current assets 142,985,757,773 141,920,367,875
1. Cash and cash equivalents 29,845,169,076 21,363,710,406
2. Trade receivables 21,032,415,203 19,535,358,365
3. Unclaimed work 55,234,055,464 45,166,385,449
4. Other receivables 22,697,509,601 45,358,809,788
5. Current income tax assets 60,228,428 57,452,574
6. Derivative assets - 315,972,255
7. Other current assets 2,246,850,033 3,444,524,860
8. Inventory assets 11,369,529,968 6,678,154,178
9. Assets held for sale 500,000,000 -
?. Non-current assets 71,483,266,690 79,944,245,712
1. Other long-term receivables 5,384,647,264 5,368,892,174
2. Available-for-sale financial assets 2,856,999,342 225,000,000

I. Matters Related to Proxy Solicitation

1. Matters related to the solicitor

Name (Company name) Type of shares Number of shares held Ownership ratio Relationship to company Note
KIB Plug Energy Co., Ltd. Common stock 3 0 Principal -

- Matters related to the special related party of the solicitor

Name (Company name) Relationships with the solicitor Type of shares Number of shares held Ownership ratio Relationship to company Note
The Core Tech Group Largest shareholder Common stock 41,957,581 17.71 Largest shareholder -
Total - 41,957,581 17.71 - -
? The above matters related to the special related party are as of December 31, 2024.

2. Matters related to the solicitor’s agent

A. Proxy for exercising voting rights at general shareholders’ meeting (Proxy holder)

Name (Company name) Type of shares Number of shares held Relationship to company Relationships with the solicitor Note
Park Sang-jun Common stock 0 Employee Employee -
Kim Tae-min Common stock 0 Employee Employee -

B. Proxy solicitation agent

Name (Company name) Category Type of shares Number of shares held Relationship to company Relationships with the solicitor Note
JM Holdings Corporation None - - - -

?In case the proxy solicitation agent is a corporation?

- Matters related to the corporation entrusted with the proxy solicitation

Name of corporation Representative Location Entrustment scope Contact points
JM Holdings Lim Jae-min 335 Sapyeong-daero, Seocho-gu, Seoul, 505-29 (Banpo-dong) Proxy solicitation Solicitation and Consulting 02-9027-1289

3. Solicitation period and scope of solicited voting right holders

A. Solicitation period

Announcement date of general shareholders’ meeting Solicitation start date Solicitation end date Date of general shareholders’ meeting
2025.03.13 2025.03.18 2025.03.28 2025.03.28

B. Scope of a solicited voting right holder

All shareholders registered in the shareholder register of KIB Plug Energy Co., Ltd. as of December 31, 2024

1. Matters related to the solicitor

Name (Company name) Type of shares Number of shares held Ownership ratio Relationship to company Note
KIB Plug Energy Co., Ltd. Common stock 3 0 Principal -

- Matters related to the solicitor's special related party

Name (Company name) Relationships with the solicitor Type of shares Number of shares held Ownership ratio Relationship to company Note
The Core Tech Group's largest shareholder Common stock 41,957,581 17.71 Largest shareholder -
Total - 41,957,581 17.71 - -
? The above matters related to the special related party are as of December 31, 2024.

2. Matters related to the solicitor’s agent

A. Proxy for exercising voting rights at general shareholders’ meeting (Proxy holder)

Name (Company name) Type of shares Number of shares held Relationship to company Relationships with the solicitor Note
Park Sang-jun Common stock 0 Employee Employee -
Kim Tae-min Common stock 0 Employee Employee -

B. Proxy solicitation agent

Name (Company name) Category Type of shares Number of shares held Relationship to company Relationships with the solicitor Note
JM Holdings Corporation None - - - -

?In case the proxy solicitation agent is a corporation?

- Matters related to the corporation entrusted with the proxy solicitation

Name of corporation Representative Location Entrustment scope Contact points
JM Holdings Lim Jae-min 335 Sapyeong-daero, Seocho-gu, Seoul, 505-29 (Banpo-dong) Proxy solicitation For inquiries and consultations, call 02-9027-1289

From the Kib Plug filing im not posting all of the filings there are to many you can just go out and read it to see what you think is important

B. Attachment of annual report and audit report

- We plan to disclose the business report and audit report on March 20, 2025 on the electronic disclosure system (http://dart
.fss.or.kr) and post it on the website (http://www.kibplugenergy.com), so please refer to it.
- The business report may be revised if there are changes or errors after the general shareholders' meeting, and in this case, a correction report will be disclosed on the electronic disclosure system (http://dart.fss.or.kr), so please refer to it.
- For matters changed after the general shareholders' meeting, you must use the business report submitted to "DART-Regular Disclosure" (http://dar
t.fss.or.kr).

There is to much to post it all some of it is more important than others Here is the part about granting stock options . It list Coretecs Dr. Seonkee Kim as i read it .

? Grant of stock options

A. Summary of necessity to grant stock purchase options

Promoted as part of a program to compensate executives and employees who have contributed or are likely to contribute to the company's management and to achieve mid- to long-term management goals that the company seeks to achieve.

B. Name of the person to be granted stock options

Name Position Position Shares to be granted
Type of shares Number of shares
Kim Seon-gi Executive Director CEO Common stock 1,200,000 The gi in the name should be kee ( Dr. Seonkee Kim from Coretec )
Baek Seung-ryun Executive Director CEO Common stock 1,000,000
Baek Yeong-gi Executive Director President Common stock 700,000
Lee Ji-young Executive Vice President Common stock 500,000
Yoon Chang-an Executive Director Managing Director Common stock 300,000
Jin Woo-yeon Executive Director Managing Director Common stock 300,000
Park Sang-jun Executive Director Managing Director Common stock 300,000
Kim Jeong-hoon Executive Director Managing Director Common stock 250,000
Eom Hong-jin Executive Director Managing Director Common stock 250,000
Kim Dong-hoon Executive Director Managing Director Common stock 250,000
??? and 143 others
Employees, etc. - Common stock 8,815,000
Total (154)

Common stock Total (13,865,000) shares

D. Method of granting stock purchase options, types and number of shares to be granted upon exercise, exercise price, exercise period, and other conditions outline

Classification Contents Remarks
Method of granting Stock granting through new stock issuance -
Type and number of shares to be granted Type of stock: Common stock
Number of shares: 13,865,000 shares -
Exercise price and exercise period Exercise price: KRW 518
Exercise period: March 28, 2027
~ March 28, 2033 -
Other conditions outline Details related to granting stock purchase options
are subject to relevant laws and Article 9-3 of our Articles of Incorporation. -

D. Summary of the details of the remaining stock purchase options as of the most recent date and the granting, exercise, and expiration of the stock purchase options in the most recent year

- Details of the remaining stock purchase options as of the most recent date

Total issued
Number of shares Grantable
Range of shares Grantable
Type of shares Grantable
Number of shares Remaining
Number of shares
236,981,544 15% of the total number of issued shares Common stock 35,547,231 shares 35,397,231 shares

- Details of the granting, exercise, and expiration of stock purchase options for the most recent two fiscal years and the fiscal year in question

Fiscal year Grant date Number of grantees Type of shares Granted
Number of shares Exercised
Number of shares Expired
Number of shares Remaining
Number of shares
2024 - - Common stock - 50,000 200,000 100,000
2023 - - Common stock - - 1,400,000 350,000
2022 - - Common stock - - 300,000 1,750,000
Total - Total ( 0 ) Common stock Total ( 0 ) shares Total (50,000) shares Total (1,900,000) shares Total (100,000) shares

? Other notes

- The above stock purchase option grant is a special resolution of the general shareholders' meeting and may change depending on the approval process of the regular shareholders' meeting.
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More of the Announcement of Convocation of General Meeting of Shareholders
2. Status of remuneration of outside directors, etc.

(Unit: KRW)
Classification Number of persons Shareholders' meeting approval amount Total payment amount Per person
Average payment amount Remarks
Outside directors 3 2,000,000,000 146,833,330 48,944,443

Note 1) The above shareholder's meeting approval amount is based on 7 registered directors


II. Matters Related to Transactions with the Largest Shareholder, etc.

1. Transactions where a single transaction amount exceeds a specified threshold

(Unit: 100 million won)
Type of transaction Counterparty
(Relationship with the company) Transaction period Transaction amount Ratio (%)
Loan of funds Beomhan Automobile Co., Ltd.
(Related company) 2024.01.02 27 1.22
(*) This is about a single transaction amount of 1% or more of the total assets on the financial statements as of the end of 2023.

2. Transactions where the total transaction amount, including the transaction with a specific person, exceeds a specified threshold during the relevant fiscal year

(Unit: 100 million won)
Counterparty
(Relationship with the company) Transaction type Transaction period Transaction amount Ratio (%)
- - - - -

1.Transactions where a single transaction amount exceeds a specified threshold

(Unit: 100 million won)
Transaction type Counterparty
(Relationship with the company) Transaction period Transaction amount ratio (%)
Fund loan Beomhan Automobile Co., Ltd.
(Related company) 2024.01.02 27 1.22
(*) This is the content for a single transaction amount of 1% or more of the total assets on the financial statements at the end of 2023.

2. Transactions where the total transaction amount, including the transaction with a specific person, exceeds a specified threshold during the relevant fiscal year

(Unit: 100 million won)
Transaction counterparty
(Relationship with the company) Transaction type Transaction period Transaction amount Ratio (%)
- - - - -

This filing has numerous headings
Announcement of Convocation of General Meeting of Shareholders

March 13, 2025

Company Name: KIB Plug Energy Co., Ltd.

Representative Director: Kim Seon-gi, Baek Seung-ryun
Head Office Address: 260-37, Cheoyong-ro, Nam-gu, Ulsan



(Website) http://kibplugenergy.com

Writer: (Position) Head of Strategic Planning and Finance Division (Name) Park Sang-jun

part 2 of this filing

Announcement of Convocation of General Meeting of Shareholders

(44th Regular)

We wish you good health and peace in your home.

In accordance with Article 18 of the Articles of Incorporation, we hereby convene the 44th Regular Shareholders' Meeting as follows.

Please attend.

- Next -

1. Date and Time: 9:00 AM, Friday, March 28, 2025

2. Location: 260-37, Cheoyong-ro, Nam-gu, Ulsan (3rd floor conference room, headquarters)

3. Purpose of Meeting

A. Report Items: Audit Report, Business Report, Internal Accounting Management System Operation Status Report,

B. Agenda Items

Agenda Item 1: Approval of the 44th term (January 1, 2024 ~ December 31, 2024) financial statements
Agenda Item 2: Amendment to the Articles of Incorporation
Agenda Item 3: Dismissal of Directors
- Agenda Item 3-1: Dismissal of Choi Soo-hyun, Non-executive Director
- Agenda Item 3-1: Dismissal of Son Kyo-deok, Outside Director
Agenda Item 4: Appointment of Directors
- Agenda Item 4-1: Appointment of Lim Tae-sang, Outside Director (New Appointment)

- Agenda Item 4-2: Appointment of Kim Hyeong-gi, Other Non-executive Director (New Appointment)
?If Agenda Item 2 is rejected, Agenda Item 4 will be automatically discarded.
Agenda Item 5: Appointment of Audit Committee Members
- Agenda Item 5-1: Appointment of Outside Director Appointment of Audit Committee Member Im Tae-sang (new appointment)
- Agenda No. 5-2: Appointment of Audit Committee Member Yoo Young-sun as an outside director (new appointment)

?If Agenda No. 2 is rejected, Agenda No. 5 will be automatically discarded
Agenda No. 6: Appointment of an outside director to become an Audit Committee Member
- Agenda No. 6-1: Appointment of an outside director Kwon Oh-sun to become an Audit Committee Member (new appointment)

?If Agenda No. 2 is rejected, Agenda No. 6 will be automatically discarded
Agenda No. 7: Approval of director compensation limit
Agenda No. 8: Granting of stock purchase options

4. Matters related to electronic voting

Our company has resolved to utilize the electronic voting system pursuant to Article 368-4 of the Commercial Act at this shareholders' meeting and has entrusted the management of this system to the Korea Deposit Insurance Corporation. Shareholders may exercise their voting rights through electronic voting without attending the general shareholders' meeting, according to the method set forth below.

A. Electronic Voting Management System
- Internet address: ?http://evote.ksd.or.kr?
- Mobile address: ?http://evote.ksd.or.kr/m?

B. Electronic Voting Period: March 18, 2025, 9:00 AM ~ March 27, 2025, 5:00 PM
- The electronic voting system can be accessed from 9:00 AM on the first day,

and is accessible 24 hours a day during the period thereafter.

(However, voting is only available until 5:00 PM on the last day.)

C. Shareholders can exercise their voting rights by agenda after verifying their identity through public authentication in the system
- Types of public authentication certificates for shareholder verification: Public authentication certificates and private authentication certificates (limited to authentication certificates that can be used in K-VOTE)
D. Handling of amendment motions: If an amendment motion is submitted regarding a motion submitted at the general shareholders' meeting, electronic voting will be processed as abstention. (Article 11, Paragraph 2 of the Korea Deposit Insurance Corporation Electronic Voting Service Terms of Use)

5. Matters related to exercising voting rights
Korea Deposit Insurance Corporation will not be able to exercise shareholders' voting rights at this general shareholders' meeting. Therefore, shareholders do not need to inform Korea Deposit Insurance Corporation of their intention to exercise voting rights. They may attend the general shareholders' meeting (or vote electronically) and exercise their voting rights directly, or indirectly by proxy.

6. What to prepare when attending the general shareholders' meeting
A. Direct voting: ID
B. Proxy
- Individual shareholders: Power of attorney, proxy's ID card
- Corporate shareholders: Power of attorney, proxy's ID card, corporate seal certificate
- Information to be included in the power of attorney
? Name, address, resident registration number of the proxy (business registration number in case of a corporation)
? Name, address, resident registration number of the proxy, and information on delegation of voting rights
? Seal of the proxy

KIB Plug Energy Co., Ltd.

Part 3
I. Activities and Remuneration of Outside Directors

1. Activities of outside directors

A. Attendance rate of the board of directors and approval or disapproval of agendas

Date of meeting Name of outside directors, etc. for agendas
Son Kyo-deok
(Attendance rate: 96%) Cho Han-wook
(Attendance rate: 100%) Chun Daniel
(Attendance rate: 100%) Yoo Young-sun
(Attendance rate: 100%)
For and against
1 01.12 Increase in loan limit For For For -
2 01.17

Acquisition of stocks in other corporations/

Acquisition of tangible assets

For /
For
For
For /
For
For
For /
For
3 01.22 Acquisition of stocks in other corporations For For For
4 01.31 Concurrent positions as directors/
Concurrent positions as directors/
Payment of loans For /
For /
Agree
Agree /
Agree
Agree
Agree /
Agree
Agree
5 02.07 Approval of financial statements Agree Agree Agree
6 02.26 Change in board of directors regulations Agree Disagree Disagree
7 03.07 Loan of funds Agree Agree Agree
8 03.14 Convocation of the 43rd regular shareholders' meeting/
Introduction of electronic voting Agree /
Disagree
Agree /
Disagree
Agree /
Agree
9 03.14 Internal accounting management system evaluation report - - -
10 03.26 Extension of credit/
Submission of resignation letter by outside director Daniel Chun/
Approval of the board of directors' resolution dated 2024.3.14 regarding the agenda for the shareholders' meeting to dismiss inside director Seungryun Baek Agree /
Agree /
Agree
Agree /
Agree
11 04.01 12th convertible bond Report and repayment according to the receipt of the claim for repayment Agree Agree
12 04.29 New loan Agree Agree
13 05.20 Withdrawal of decision to acquire stocks and investment securities of other corporations /
Credit agreement /
Fund support Agree /
Agree Agree /
Agree Agree /
Agree
14 06.05 Fund loan Agree Agree
15 06.17 Liquidation of Korea Hydrogen Power Co., Ltd. Agree Agree
16 07.15 Credit extension Agree Agree
17 08.08 Loan extension Agree Agree
18 09.03 Conclusion of agreement for adjustment of equity of Bumhan Motors and loan settlement Agree Agree
19 10.07 New loan Agree Agree
20 10.15 Resolution to convene extraordinary general meeting of shareholders Agree Agree
21 11.20 Change in schedule of extraordinary general meeting of shareholders Agree Agree
22 11.28 Resolution to convene a special shareholders' meeting (finalization of agenda) Against Agree
23 12.02 Dismissal of the CEO/
Dismissal of the Chairman of the Board Abstain/
Against Against Against/
Against
24 12.19 Appointment of the Chairman of the Board/
Appointment of each representative director Abstain - Agree/
Agree

B. Activities of outside directors, etc. in board committees

Committee name Member Activity details
Date of meeting Agenda Approval status
- - - - -

2. Status of remuneration of outside directors, etc.

(Unit: KRW)
Classification Number of people Amount approved by general shareholders' meeting Total amount paid Per person
Average amount paid Remarks
Outside directors 3 2,000,000,000 146,833,330 48,944,443

Note 1) The above amount approved by general shareholders' meeting is based on 7 registered directors
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2nd Kib filing
Reporting reasons for holding general shareholders' meeting on the most concentrated date
1. Name KIB Plug Energy Co., Ltd.
2. Scheduled Date of Meeting 2025-03-28
3. Reasons for holding general shareholders' meeting on the most concentrated date(Expected) Our company tried to hold this regular shareholders' meeting on the most concentrated date of the shareholders' meeting as much as possible, but considering the major practical schedule related to holding the shareholders' meeting (settlement schedule, external auditor's audit schedule, submission of business report one week before the shareholders' meeting, etc.), we had no choice but to hold it on the most concentrated date of the shareholders' meeting. 4. Date of Convocation Notification (Public notice) 2025-03-13
5. Other references useful for making investment decisions
- Non-participation in the 'Shareholders' General Meeting Dispersion Voluntary Compliance Program' hosted by the Korea Listed Companies Association

- Dates of concentrated (expected) shareholder meetings for the current year announced by the Korea Listed Companies Association
: 2025.3.21 (Fri), 2025.3.27 (Thu), 2025.3.28 (Fri)
? Title and date of other disclosure related to this one -
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New filings today at Kib Plug Energy
Decision on Calling Shareholders' Meeting
1. Type of shareholders' meeting Annual meeting
2. Date and time of meeting 2025-03-28 09:00
3. Place of meeting 260-37, Cheoyong-ro, Nam-gu, Ulsan Metropolitan City
Headquarters, 3rd floor, conference room
4. Agenda and key issues Purpose of the 44th regular shareholders' meeting

1. Audit report
2. Business report
3. Report on the status of operation of the internal accounting management system

<Proposals for subpoena>
Proposal No. 1: Approval of the 44th financial statements

Proposal No. 2: Amendment to the Articles of Incorporation

Proposal No. 3: Dismissal of directors (total of 2 persons)
- Proposal No. 3-1 Dismissal of Choi Soo-hyun, other non-executive director
- Proposal No. 3-2 Dismissal of Son Kyo-deok, outside director

Proposal No. 4: Appointment of directors
- Proposal No. 4-1 Outside Director Candidate Tae-Sang Lim
- No. 4-2 Other Non-Executive Director Candidate Hyung-Ki Kim

Agenda No. 5: Appointment of Audit Committee Members
- No. 5-1 Outside Director Candidate Tae-Sang Lim
- No. 5-2 Outside Director Candidate Young-Sun Yoo

Agenda No. 6: Appointment of Outside Directors to Become Audit Committee Members
- No. 6-1 Outside Director Candidate Oh-Sun Kwon to Become Audit Committee Members

Agenda No. 7: Approval of Director Remuneration Limit

Agenda No. 8: Granting of Stock Purchase Option Rights
5. Date of Board Resolution (Decision Date) 2025-03-13
- Attendance of Outside Directors Present(No.) 2
Absent(No.) 0
- Attendance of Auditors (members of Audit Committee who are not outside directors) Present
6. Other matters to be factored into investment decisions
-
? Related disclosure -
[Details of Director Appointment]
Name Date of birth (year and month) Appointment term Type of appointment Professional experience (including present position)
Kim Hyeong-gi 1961-03 3 Newly appointed Current Securities Economy News CEO
Former editor-in-chief of Focus News, Poly News, etc.
[Details of Outside Director Appointment]
Name Date of birth (year and month) Appointment term Type of appointment Professional experience (including present position) Name and position of the company where holding the role of directors and etc.
Lim Tae-sang 1958-09 3 Newly appointed Current public institution expert committee member
Former sales headquarters director, Pyeon Co., Ltd.
Former LG Household & Health Care division head, No Brand Co., Ltd. director/auditor
Kwon Oh-sun 1957-02 3 Newly appointed Hyun Eng B Management Consulting Co., Ltd., Korea Management Technology, etc. consulting
Current evaluation committee member, Korea Agency for Technology and Standards, Korea Industrial Evaluation and Management Institute, etc.
Former Hyunwoo Industry auditor
Former team leader, Farm Hannong Co., Ltd. -
[Details of Members of Audit Committee Appointment]
Name Date of birth (year and month) Appointment term Type of appointment Outside director Professional experience (including present position)
Lim Tae-sang 1958-09 3 Newly appointed Yes Former sales headquarters director, Pyeon Co., Ltd.
Former LG Household & Health Care division head
Former LG Household & Health Care division head
Yoo Young-sun 1961-03 3 Newly appointed Yes Current vice president, CFO, Hapcheon Food Co., Ltd.
Former CEO, KH Chemical
Former CFO, Atium Partners
Kwon Oh-sun 1957-02 3 Newly appointed Yes Hyun-Eng Business Consulting Co., Ltd., Korea Management Technology Consulting, etc.
Currently an evaluation committee member of the Korea Agency for Technology and Standards, Korea Industrial Evaluation and Management Institute, etc.
Former auditor of Hyunwoo Industry
Former team leader of Farm Hannong Co., Ltd.

“ With the appointment of four new board members from Coretec Group (CRTG) to KIB Plug Energy, including:

- Michael Ussery, CEO of Coretec
- Dr. Seonkee Kim, Co-Chairman of Coretec
- Youngsun Yoo, Senior Vice President of Finance of Coretec
- Jungmin Lee, COO of Coretec

# Control and Influence
Given the significant presence of CRTG executives on the KIB Plug Energy board, it's likely that CRTG will have substantial control and influence over KIB Plug Energy's strategic direction, operations, and decision-making processes.

# Parent-Subsidiary Relationship
While CRTG's ownership percentage in KIB Plug Energy remains around 22.3%, the appointment of CRTG executives to key leadership positions on the KIB Plug Energy board could be seen as establishing a parent-subsidiary relationship.

# Factors Supporting Parent-Subsidiary Relationship
1. *Control through board representation*: CRTG's significant presence on the KIB Plug Energy board allows them to exert control over the company's direction and operations.
2. *Shared leadership and expertise*: The appointment of CRTG executives to key roles on the KIB Plug Energy board suggests a shared vision and strategy between the two companies.
3. *Strategic alignment*: The enhanced leadership team is expected to drive innovation, operational excellence, and global market expansion, which aligns with CRTG's interests and goals.

# Conclusion
Considering the significant control and influence CRTG will have over KIB Plug Energy through their board representation, shared leadership, and strategic alignment, it's likely that CRTG would be considered the parent company, and KIB Plug Energy would be considered a subsidiary.”

Meta AI

Until CRTG is traded OTC the price is irrelevant. The price once CRTG returns to OTC trading or better yet on the NASDAQ is the only price that effects us.

Great news on court decision! But unfortunately didn’t help share price today ……

Hopefully, they will be current on all their filings by the end of the month.

Juststoppingby,

Thanks for sharing…looking forward to CRTG acquisition of KIB Plug Energy and financial filings

Decision on Judgment on Litigation filed on August 2024.

https://investorshub.advfn.com/uimage/uploads/2025/3/11/rwrtuScreenshot_11-3-2025-Decision-on-Judgment-on-Litigation-etc._7944_dart.fss.or.kr.jpeg

https://dart.fss.or.kr/dsaf001/main.do?rcpNo=20250311801163

The SEC may just be concerned with other things but I hope CRTG is in contact with them and they've requested a waiver to trade without probation once they get current in their filings. That would fast track a lot of plans. If not (and I know no one wants to hear it) it's still going to take a couple of years to build a gigafactory and/or Silicon Anode active materials facility. I just want to see CRTG trading at it's true potential reflecting the changes that have been made to date.

They have been delinquent since November 15, 2024, and as far as I can see, the SEC has not taken any enforcement action against them. The only thing that has happened since then is that OTC moved them into the expert market.

Is it possible that the company is trying to gain investors in Korea, or elsewhere in the world where SEC regulations don't apply.

I really don't believe things change dramatically here in the US until the company comes current on its financials.

Gary

I don’t believe they can sell series D shares since, they are not in compliance with disclosure and reporting:

- *Accredited Investor Criteria*: CRTG must verify that potential buyers meet the SEC's accredited investor criteria, which includes specific income, net worth, or professional experience requirements.
- *Disclosure and Reporting*: CRTG must provide adequate disclosure and reporting to investors, including financial statements and other relevant information.”

Yes if I'm remembering right they actually WAY oversold the offering BEFORE they got de-listed. I wonder how those who bought the D shares feel about it now. Under the current circumstances I don't think they could sell any more D shares.

It will be difficult to raise more funds for Series D Preferred shares to acquire more shares in KIB Plug Energy, with Coretec stock price of 0.0008.

One of the best things Coretec could do to influence the Korean shareholders concern is to look like a real business again. Nobody wants their majority shareholder and most of their board to be of a company that was de-listed from the OTC and has a triple zero stock price. Pretty bad look. Unfortunately I am not optimistic that the annual report will be on time.

Looking forward to this litigation getting resolved and KIB Plug Energy becoming another subsidiary of CRTG.

[Correction of statement]Filing or Application of Lawsuit, etc. (Corporate Control Contest)

https://englishdart.fss.or.kr/dsbh001/main.do?rcpNo=20250306800415

Kim and 1 other person
Case 2024 Kahab 1 Injunction

Appellant (creditor): Kim ? Tae and 1 person
Counterparty (debtor): KB Plug Energy Co., Ltd.,
The Coretech Group

Regarding the above case, we are filing an appeal because we are dissatisfied with the decision of provisional injunction made by the Ulsan District Court on February 17, 2025.
Busan High Court (Ulsan Chamber)
We plan to respond in accordance with legal procedures.


- Above ‘6. The ‘filing/application date’ is the date the applicant filed the application with the court.

- The ‘7. Confirmation Date’ above is the date on which our company received and confirmed the notice of appeal from the litigation representative.

- If there are any progress or confirmed facts in the future, related information will be announced.

Now compare the efficiency of extraction, storage, transportation and usage of Liquid Natural Gas to the losses of Hydrogen. Of all the naturally available fuels LNG is the "cleanest" and LNG wells are being developed all over the world. Isreal is reported to be sitting on the regions largest LNG deposits and if they exploit those deposits will change the balance of power in the region. I'm not saying there's not a market for Hydrogen but Hydrogen is directly competing with LNG and because of the huge losses in Hydrogen production compared to LNG and even direct use electricity Hydrogen will be a niche fuel in comparison with existing technology. What I am lookihg forward to is CRTG battery technology making energy storage more dense and affordable. My home is 100% solar and we use forklift batteries for storage. They way tons. They take maintenance every two weeks in summer and ever month in the winter. They take up the space of a sedan, cost as much as a new car are are corrosive. Lithium batteries take up the space of a stacked washer and dryer and take almost no maintenance. The issue is the price and lifespan. Lead acid forklift batteries properly maintained will last 20+ years by personal experience. Lithium batteries currently have a EXPECTED ten year life and cost twice as much. When CRTG releases the new battery chemistry I expect to see 20 year life plus and more than double density. I also expect the price to fall once mass production is developed. My biggest concern is municipalities that fear the independence self energy production brings to the citizenry. I'm already seeing municipalities limit how much electricity you can produce. Not voltage or amps but watts produced per day! That's nuts! Edison said before he died If municipalities centralize power production residents will be slaves to the producers and municipalities. Time has proven him right. I am all for decentralized production and the freedom to choose people's own destiny with as little Gov interference as possible. Having the freedom to produce and store your own power changes people's perception of government, "bills" and what it means to be an engaged citizen not just a "good consumer." I would love to see neighbors band together, buy a micronuclear generator and tell the city to pound sand! The Boston tea party was over the equivalent of a 2 penny tax on tea. We need to throw off the shackles of municipal over reach and become produces and free men and woman again. CRTG is opening the door to energy storage that expands the frontier of where human kind can establish a foothold and prosper.

Meta AI response to silicon applications.

“ A fascinating article on green hydrogen!

*Potential Applications for Silicon in the Green Hydrogen Pipeline*
The article highlights the growing importance of green hydrogen in the energy sector, particularly in storing energy from renewables. Silicon, with its unique properties, might play a role in this emerging industry:

1. *Silicon-based solar panels*: Silicon is a crucial material in solar panel manufacturing. As green hydrogen production relies on renewable energy sources, silicon-based solar panels could provide the necessary energy for hydrogen electrolysis.
2. *Silicon-based electrolysis cells*: Researchers have explored the use of silicon-based materials in electrolysis cells, which split water into hydrogen and oxygen. Silicon's properties could enhance the efficiency and durability of these cells.
3. *Thermal energy storage*: Silicon can be used in thermal energy storage systems, which are essential for stabilizing the grid and storing excess energy generated by renewables. This stored energy can then be used for hydrogen production.
4. *Hydrogen storage and transportation*: Silicon-based materials are being researched for their potential use in hydrogen storage and transportation. Silicon-based nanomaterials, for example, could improve the efficiency and safety of hydrogen storage.

*Opportunities for Collaboration and Innovation*
While silicon's role in the green hydrogen pipeline is still being explored, there are opportunities for collaboration and innovation:

1. *Research and development partnerships*: Collaborations between silicon manufacturers, research institutions, and green hydrogen companies could accelerate the development of silicon-based technologies for the green hydrogen industry.
2. *Supply chain integration*: Silicon suppliers could work closely with green hydrogen companies to ensure a stable and efficient supply chain for silicon-based materials.
3. *Standardization and regulation*: Industry stakeholders, including silicon manufacturers, should engage in standardization and regulatory efforts to ensure the safe and efficient deployment of green hydrogen technologies.

In conclusion, while the connection between silicon and green hydrogen is still emerging, there are potential applications and opportunities for collaboration and innovation. As the green hydrogen industry continues to grow, it's essential to explore the role of silicon in this ecosystem.”

Interesting article. Though I lost most of it "storage of energy" and transporting caught my wandering mind wondering if there is a place for our silicon in the pipeline? Do you think so? "Hydrogen is emerging as one of the leading options for storing energy from renewables with hydrogen-based fuels potentially transporting energy from renewables over long distances"...

I guess I'm bored. But, ten days to the 10K.

Anyhow:
Quikshft - How much electricity does it cost to make green hydrogen, vs just using it directly in the end application?

ChatGPT said:
Good question—green hydrogen production and usage involve energy losses at multiple stages, so the overall efficiency (or yield) is a critical factor in determining whether it makes sense compared to direct electricity use.

Energy Efficiency of Green Hydrogen vs. Direct Electricity Use
Electrolysis Efficiency (Making Hydrogen)

The process of splitting water via electrolysis is ~60–80% efficient (i.e., 20–40% of the electricity is lost as heat).
This means that for every 100 kWh of electricity, you get 60–80 kWh worth of hydrogen energy.
Compression & Storage Losses

If the hydrogen is stored or transported (compressed or liquefied), another 10–30% of the energy is lost.
Fuel Cell Efficiency (Using Hydrogen)

When converting hydrogen back into electricity via a fuel cell, the efficiency is ~50–60%.
So, if you started with 100 kWh of electricity, you might end up with 30–50 kWh of usable energy after the entire process.
Comparison to Direct Electricity Use
If you use electricity directly (e.g., to power an electric vehicle or industrial process), efficiency can be 90% or higher.
In contrast, the full hydrogen cycle (electrolysis ? storage ? fuel cell) results in an overall efficiency of 30–50%.
This means that using electricity directly is roughly 2–3 times more efficient than converting it into hydrogen and back.
When Does Green Hydrogen Make Sense?
Despite its lower efficiency, green hydrogen is valuable in:

Heavy Industry (Steel, Cement, Chemicals): These processes need high temperatures or chemical reactions where electricity isn’t a direct substitute.
Long-Distance Transport (Trucks, Ships, Planes): Hydrogen is lighter than batteries and can store more energy per weight.
Grid Storage: Hydrogen can store excess renewable energy for long periods, while batteries are better for short-term storage.
If the end application can use electricity directly, that’s usually the best choice. But for hard-to-electrify sectors, green hydrogen can be a viable alternative. Would you be looking at it for anything specific?

I don't believe hydrogen is going away anytime soon, especially green hydrogen.

What is green hydrogen and why do we need it? An expert explains
Article dated Dec 21, 2021.
https://www.weforum.org/stories/2021/12/what-is-green-hydrogen-expert-explains-benefits/

Germany's grid problems could be greatly helped if they would focus on battery storage systems instead of pumped hydro. Large scale BESS installations are just starting to gain momentum here in the states...and we've come full circle back to how CRTG is positioned to profit...in theory.

They'll probably reverse course with the hydrogen. With LNG being so available the only adopters of hydrogen will be ideological not economic with the USA being the largest consumer of ideological energy second to Germany whose grid is collapsing because of ideological infrastructure decisions outside reality. I do hope KIB is able to streamline under CRTG management and give the best bang for buck. That alone should bump CRTG stock.

In the KIB Plug Energy video it says toward the end of the video they are expanding into the Green Hydrogen Energy business . I think CRTG will profit greatly from KIB .
https://www.activesustainability.com/sustainable-development/what-is-green-hydrogen-used-for/
This is a good site to look at on Green Hydrogen use.

Kib Plug Energy video on the history of the company .Click on Public relations tab to the right ... Its been on their website for a while but it gives a good overview. Ik sure Coretecs people who are now managing KIB will change some things but i think it has great potential as a revenue generator for CRTG once they acquire the number of shares needed to count KIBs revenue in their balance sheets . I believe it would be 51 % ownership. Hopfully they hit that soon

http://dkme.ivyweb.co.kr/eng/investment/sub02.html

"1 ) This transformative acquisition,2) coupled with a strategic restructuring of its Core Optics subsidiary 3) and upcoming funding initiatives, solidifies Coretec’s status as a global powerhouse in energy and technology."


LFG!!!!

Since this press release came out we know Coretec has 41,528,391,326 shares of Kib Plug and has *Ongoing Negotiations: for
• 34,000,000 shares (to be acquired from various shareholders).* As we know these Series D share contracts and sells as wel, as the purchasing of Kib Plug shares , the strategic restructuring of its Core Optics subsidiary and further financing activities including the Ongoing Negotiations: for
• 34,000,000 shares ok Kib Plug are keeping Coretec from filing the last years 3rd quarter reports that ende Sept 30 2024 but have to be included in the Subsuquent events since the Nov 6th 2024 series D agreement started before the filing deadline . Thats a fact period . The agreement ends March 31 st and can be extended 45 days unless they wrap it all up before March 31st which could happen . So i look for any news , filings etc a we all are but this all has taken time just as they said it would in the agreement NOV 6th they would probably be filing late on the Nov 15th 2024 quarterly report . Im not worried about it as they are completely restructuring the company which made all the quarterly reports filings late. Question is when will they wrap up the Series D offering and purchases of Kib and all the restructuring of Core Optics subsidiary and financing activites . I look forward to seeing the finality of all this MAJOR Corporate restructuring as i believe CRTG will be a far better company when all is said and done . Hopfully they can wrap it up earlier the March 31 or April 15 which would be because the needed a 45 day extension . Look for KIB Plug annual report mid March . The filied it on March 21st last year

ANN ARBOR, Mich. – Dec. 04, 2024 – The Coretec Group, Inc. (OTCQB: CRTG) (“Coretec” or the “Company”) has taken a decisive step toward global leadership in energy innovation with the acquisition of a controlling stake in KIB Plug Energy Co., Ltd. (“KIB Plug Energy”), a prominent KOSPI-listed enterprise in South Korea. 1 ) This transformative acquisition,2) coupled with a strategic restructuring of its Core Optics subsidiary 3) and upcoming funding initiatives, solidifies Coretec’s status as a global powerhouse in energy and technology.

Zaicell Inc in Virginia now listed af , " Pending Inactive " due to annual registration fees not paid and Annual Reports not filed. Probably not a big deal as they can always catch up

Coretec Group's (CRTG) path to getting up to date with the SEC filings is uncertain, but there are a few indicators to look out for.

- *Filings with the SEC*: Keep an eye on the SEC's EDGAR database for any new filings from CRTG, such as a Form 10-Q or a Form 8-K, which may indicate progress in getting up to date ¹.
- *Press releases and investor updates*: CRTG may issue press releases or investor updates that provide insight into their progress on filing overdue reports or resolving any issues with the SEC.
- *SEC correspondence*: If the SEC has communicated with CRTG regarding their overdue filings, this correspondence may be publicly available through the SEC's website or EDGAR database.

https://securities-law-blog.com/tag/sec-updates-guidance-on-confidential-treatment-requests/

Is there any indicator or preamble before CRTG gets up to date with the SEC?

Yes indeed! But I’m afraid that we’ll not get the opportunity to buy at these prices for very long! The share price will escalate greatly once Coretec is out of executive market! I pray that it happens soon in March!……

If only we could buy at this price...

I can’t believe that someone sold 1 share today! 😂 LOL!

I'm not disagreeing with you, but I believe it's obvious that the company won't be freely trading until it comes current with its financials.

If its giga-factory is being supported with Federal Govt. funds, it needs to be very careful that they won't be pulled, especially if they in no way support Musk's business empire.

Gary

Skitahoe
I understand the situation with financial documentation requirements by SEC. What I’m saying is that the company should proceed building the giga-factory right now. That way they can get this ball rolling along! Work on getting federal funding & giga-factory built now and not later! ……

I'm not suggesting that they don't do the work, but why we're down is because they're not doing the required financial documentations. Until they get up to date on the quarterlies we'll be stuck where we are in spite of mega-factories, etc.

Gary

Well I hope that Coretec has at least broken ground on this gigantic plant in Virginia! We desperately need for an increase in the share price!…:,,

Depends on the size, but 18 months for one that was built in London.

https://autovista24.autovistagroup.com/news/what-is-a-gigafactory/#:~:text=18%20months%20is%20needed%20to,to%20reach%20full%20production%20capacity.

Tesla is taking 12-15 months to build one In Mexico

https://www.notateslaapp.com/news/1352/tesla-gigafactory-mexico-longer-construction-time-for-new-25k-compact-car#:~:text=Tesla%20is%20set%20to%20construct,of%2012%20to%2015%20months.

Well I pray that this SNAILS PACE ends soon with expert market. Then proceeds to a very rapid pace of commercialization for Endurion anode! How long does it take to build a giga-plant?…….