ITM Semiconductor Vietnam Co., Ltd announced that it will receive KRW 24,720,000,000 in an equity round of funding on January 20, 2023. The transaction will include participation from returning investor ITM Semiconductor Co., Ltd. to retain 100% stake in the company. The transaction will take place through cash acquisition.

The transaction has been approved by board of directors of the company. The transaction is expected to close on February 20, 2023.