OTC Markets Group Welcomes Kumyang Co., Ltd. to OTCQX

Rhea-AI Summary

OTC Markets Group (OTCQX: OTCM) announced that Kumyang Co., (KRX: 001570.KS; OTCQX: KMYGY), a global secondary cylindrical battery manufacturer and eco-friendly chemical materials supplier, has qualified to trade on the OTCQX® Best Market. Kumyang began trading on July 19, 2024, under the symbol 'KMYGY'. This move provides efficient access to U.S. capital markets for Kumyang, allowing them to use their home market reporting to make information available in the U.S.

Kumyang's Chairman & CEO, Dr. KJ Ryu, expressed pride in being the first Korean company to graduate to the OTCQX tier, viewing it as a significant step towards becoming a leading global supplier of secondary batteries. JP Morgan acted as Kumyang's OTCQX sponsor for this transition.

Positive

• Kumyang Co., qualified to trade on the OTCQX® Best Market, potentially increasing visibility to U.S. investors
• Kumyang is the first Korean company to graduate to the OTCQX tier, potentially paving the way for other Korean issuers
• Trading on OTCQX provides Kumyang with efficient, cost-effective access to U.S. capital markets

Negative

• None.

NEW YORK, July 19, 2024 (GLOBE NEWSWIRE) -- OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for trading 12,000 U.S. and international securities, today announced Kumyang Co., Ltd. (KRX: 001570.KS; OTCQX: KMYGY), a global secondary cylindrical battery manufacturer and supplier of eco-friendly chemical materials, has qualified to trade on the OTCQX® Best Market.

Kumyang begins trading today on OTCQX under the symbol “KMYGY.” U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.

Trading on the OTCQX Market offers companies efficient, cost-effective access to the U.S. capital markets. For companies listed on a qualified international exchange, streamlined market standards enable them to utilize their home market reporting to make their information available in the U.S. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws.

“Joining OTCQX is an important milestone both for Kumyang as well as the broader Korean capital markets. By offering a sponsored Level 1 ADR, Kumyang is enhancing U.S. investors’ global investment opportunities to participate in the company’s growth. Kumyang is paving the way for other Korean issuers to be able to provide the breadth and depth of U.S. investors access to the Korean capital markets – helping to bridge the valuation gap and address the “kimchi discount.” - Jason Paltrowitz, Director and EVP of OTC Markets Group Inc.

“Kumyang is honoured and delighted to be the first Korean company to graduate to the OTCQX tier of the OTC Markets. The commencement of trading in the US is a significant milestone in our journey to be the leading global supplier of secondary batteries providing critical technologies to achieve net zero. We look forward to welcoming US investors to invest in our future. We envisage that many more Korean companies will join us in this important market.” - Dr. KJ Ryu, Chairman & CEO of Kumyang.

JP Morgan acted as the company’s OTCQX sponsor.

About Kumyang Co., Ltd.
Kumyang has surpassed its reputation as the first in Korea to localise the production of blowing agents, being the world leader in blowing agents, and the developer of the world's first eco-friendly blowing agents. The company has secured a stable supply of critical minerals through resource development and developed the unique capability to produce the world's only ultra-high-Ni single-crystal cathode materials.

Kumyang has pioneered by building a battery Value Chain in Korea, which includes the mass production of cylindrical batteries. Based on this Value Chain, Kumyang will mass-produce high-quality cylindrical batteries using ultra-high nickel single-crystal cathode materials, positioning the company as a global leader in the cylindrical battery market. Through the reinvestment of profits and continuous research and development, Kumyang is committed to maintaining superior technology and competitiveness.

About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Our data-driven disclosure standards form the foundation of our three public markets: OTCQX^® Best Market, OTCQB^® Venture Market and Pink^® Open Market.

Our OTC Link^® Alternative Trading Systems (ATSs) provide critical market infrastructure that broker-dealers rely on to facilitate trading. Our innovative model offers companies more efficient access to the U.S. financial markets.
OTC Link ATS, OTC Link ECN and OTC Link NQB are each an SEC regulated ATS, operated by OTC Link LLC, a FINRA and SEC registered broker-dealer, member SIPC.

To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com.

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Media Contact:
OTC Markets Group Inc., +1 (212) 896-4428, media@otcmarkets.com

FAQ

When did Kumyang Co., (OTCQX: KMYGY) begin trading on the OTCQX Best Market?

Kumyang Co., began trading on the OTCQX Best Market on July 19, 2024, under the symbol 'KMYGY'.

What is Kumyang Co., 's primary business?

Kumyang Co., is a global secondary cylindrical battery manufacturer and supplier of eco-friendly chemical materials.

Who acted as Kumyang's sponsor for its OTCQX qualification?

JP Morgan acted as Kumyang Co., 's OTCQX sponsor for its qualification to trade on the OTCQX Best Market.

What is the significance of Kumyang trading on OTCQX for Korean companies?

Kumyang is the first Korean company to graduate to the OTCQX tier, potentially paving the way for other Korean issuers to access U.S. investors and address the 'kimchi discount'.