[Alpha Biz=(Chicago) Reporter Kim Jisun] KCGI, a private equity fund led by CEO Kang Sung-bu, refuted the disclosure of the shareholder letter, saying, "DB HiTek is refusing face-to-face consultations." It takes time to organize the data, but it is faithfully preparing face-to-face consultations.

According to DB HiTek, he received an official request for shareholder consultation from KCGI on April 20 and later asked for an agenda for efficient discussion before shareholder consultations through a reply letter on the 27th of the same month.

KCGI asked for two face-to-face shareholder consultations with DB HiTek management in May. In addition, related data such as accounting, sales, personnel, and finance were requested in the past five business reports. It also proposed institutional improvements to improve corporate governance.

DB HiTek explained that it has focused on organizing the data, judging that it is in order to provide the data requested by KCGI first and then discuss detailed agenda items such as shareholder consultations.

However, the amount of data requested by the KCGI is so large, and there are many issues to be legally reviewed, such as the exposure of trade secrets due to the disclosure of accounting data directors, the provision of undisclosed information, and equity in the provision of data between shareholders.

"The preparation of the data will be completed soon, and we will provide it to KCGI soon," a DB HiTek official said. "It is not true that DB Hitech has unilaterally announced to the media that it is refusing to consult with shareholders."

 

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