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Major Legal Disputes with Yello Mobile have been Resolved, Yello Mobile is Ready to Rebound

2019-05-21 14:03 1286
  • Major lawsuits from Alpen-Route Asset Management, Coinone and Mr. Dogyun Kwon, brought to an end
  • Company steps forward and dismisses controversy, system reformation launched for company's bounce-back

SEOUL, South Korea, May 21, 2019 /PRNewswire/ -- Yello Mobile (CEO Sanghyuk Lee), a representative Korean unicorn, has come to a settlement with major stakeholders and is set for resurfacing. Yello Mobile announced through its 1st quarter business report on May 15 that lawsuits from major partners such as Alpen-Route Asset Management and Coinone have been concluded.

Another legal action is on the brink of conclusion, as the stock sales price lawsuit regarding JTNet's put option, filed by Mr. Dogyun Kwon, the CEO of one of Yello Mobile's major partners, was resolved through a mutual agreement between the two parties.

The company is also making strenuous efforts to resolve other ongoing cases. Yello Mobile plans to completely resolve conflicts with its major stakeholders through continual dialogues and agreements within the first half of this year.

As the disputes with investors and affiliates are being resolved, Yello Mobile now plans to dismiss concerns raised as a result of the crisis and propose a new company vision to consolidate its relations with major partners.

CEO Sanghyuk Lee of Yello Mobile said, "Based on our organic cooperation with various stakeholders, the company will leap forward as a leader in the age of this fourth industrial revolution."

Yello Mobile is a Korean data platform company established in 2012. Its core business operations include smart city, healthcare, AD tech, and media commerce, where the company is concentrating its efforts to become more competitive.

Among the central subsidiaries within the group are the publicly listed 'DAYLI Blockchain', a smart city solution company, 'Carelabs', an O2O healthcare platform company, and 'Future Stream Networks', an integrated digital marketing company.

About Yello Mobile

Yello Mobile is an integrated digital platform provider of optimized B2C service in the digital environment and customized B2B solution with state-of-the-art technology brought by the Digital Transformation including Blockchain, Big Data and AI. It was established in 2012 with the aim of delivering service innovation with maximizing values of blockchain in its core business areas such as FinTech, AdTech, healthcare, O2O, and media commerce. Since its foundation, Yello Mobile has been leading innovation, keeping pace with the paradigms of the new era, and aspiring to become the pioneers of groundbreaking technology that can lead the Digital Transformation.

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Source: Yello Mobile