Two companies entering the battery components and artificial intelligence (AI) security sectors have received government approval for their business restructuring plans. They plan to invest a total of 48.1 billion won over the next five years and create 99 new jobs.
The Ministry of Trade, Industry and Energy announced on September 30 that it approved the restructuring plans of DK and Phisio during the 54th Business Restructuring Committee meeting.
Electronics manufacturer DK will leverage its existing manufacturing capabilities to develop cooling plates necessary for electric vehicle batteries and energy storage systems (ESS), marking its entry into the battery components market. Network security firm Phisio will expand its business into integrated security solutions by developing AI-based video information compression technology.
Over the next five years, both companies will implement their restructuring plans, investing a total of 48.1 billion won and hiring 99 new employees.
Earlier in July, the Ministry approved restructuring plans for four companies in the electric vehicle, eco-friendly, and shipping sectors. Those approved companies proposed to invest 75.4 billion won and create 99 new jobs over the next five years. This trend reflects a shift in traditional manufacturing firms toward advanced industries.
The Ministry plans to continue expanding support for restructuring companies through consulting, research and development (R&D), and policy financing and funds. Kim Joo-hoon, the private committee chair, stated, "I commend the efforts of companies venturing into new fields to respond to rapid economic and technological changes, and the government must strengthen its support to ensure the success of these restructuring efforts."
* This article has been translated by AI.
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