This article was displayed on the ChosunBiz MoneyMove (MM) site at 9:08 a.m. on Jun. 12, 2026.
The management rights of JOOYONTECH, a first-generation PC manufacturer in Korea, have reportedly been put up for sale on the market. The downturn in the industry and stricter delisting requirements appear to have combined to worsen the business environment. If the sale goes through, JOOYONTECH is expected to have a new largest shareholder for the first time in about 10 years.
According to the investment banking (IB) industry on the 12th, JOOYONTECH is looking for a buyer to sell its management rights. The likely sale methods are the sale of existing shares held by current largest shareholder Hwapyeong Holdings and related parties, and a third-party paid-in capital increase. Law firm YulChon is said to be handling legal advisory for the sale.
JOOYONTECH is a first-generation PC manufacturer in Korea marking its 38th anniversary this year. It built its growth around "value-for-money PCs" as it took part in the government's PC distribution plan in the 1990s.
However, since the 2010s, the PC market has slumped, and results have struggled. From 2016 through last year, the company logged operating losses in nine of the past 10 years. The only profitable year during this period, 2020, is analyzed to have been a temporary improvement driven by COVID-19. Last year, it posted 62.6 billion won in revenue and an operating loss of 16.3 billion won.
Accordingly, the stock has also been weak. JOOYONTECH's share price is currently moving in the 1,400-won range, with a market capitalization in the high 10 billion won range.
Around 2016, the largest shareholder changed three times within a year, causing turmoil. It stemmed from the limits of the PC manufacturing business and management difficulties due to falling results. Song Si-mon, the founder and former chairman of JOOYONTECH, sold his equity to electronic components company WOORIRO in Sep. 2015, but about six months later in 2016, management control shifted again to HwaInvest. About six months after that in 2016, the current largest shareholder, Hwapyeong Holdings, acquired management control.
If this sale of management rights goes through, JOOYONTECH will welcome a new largest shareholder for the first time in 10 years. Still, the burden from declining results and share price remains. In particular, as financial authorities tighten delisting standards, it will not be easy for JOOYONTECH to maintain its listing. In July, the market capitalization standard for the KOSPI market is set to be raised to 30 billion won. Unless JOOYONTECH's share price rises more than 50% for a month, it will fall short of the listing standard.
According to the industry, the sale of JOOYONTECH's management rights will proceed through a competitive bidding process. Hwapyeong Holdings and JOOYONTECH have also contacted multiple potential buyers. However, no party is said to have shown an active intent to acquire yet. Industry officials said that given the uncertainty over maintaining the listing and the seller's price expectations, it is not easy to determine a price.
An industry official said, "With delisting requirements kicking in just a month from now, it will not be easy to approach in a situation that also requires capital expansion including a paid-in capital increase," adding, "It appears the process would have been much smoother if the seller had presented terms, rather than a competitive bid."
JOOYONTECH did not offer a particular position regarding the sale of management rights. A JOOYONTECH official said, "Regarding the sale of the largest shareholder's equity, there is nothing the company can confirm," adding, "At present, aside from the previously released plans to pursue new business development and strategic cooperation, we cannot confirm anything."
JOOYONTECH previously released a press statement announcing plans to strengthen competitiveness centered on the PC business unit and to cooperate on entering new businesses. It is also reviewing investment strategies through a professional advisory firm. On the 22nd of next month, it will hold an extraordinary shareholders meeting to delete non-operated businesses such as Virtual Reality (VR) video device manufacturing and PC bang franchise startup consulting from its articles of incorporation, and to prepare for entry into advertising-related businesses such as LED billboards.