v3.26.3
Related parties (Tables)
 6 Months Ended 12 Months Ended
Jun. 30, 2026
Dec. 31, 2025
Entity Information [Line Items]    
Schedule of receivables and payables account balances
           
       

June 30,

2026

  
Related party   Name of entity     Payables     Receivables  
          (In U.S. Dollar)  
Individual that has control over the Company   EUN JONG CHOI     $ -       54,058  
Other related party   CUBEBIO Co., Ltd.       32,435       -  
Total         $ 32,435       54,058  

 

          December 31,
2025		  
Related party   Name of entity     Payables     Receivables  
          (In U.S. Dollar)  
Individual that has control over the Company   EUN JONG CHOI     $ -       52,918  
Other related party   CUBEBIO Co., Ltd.       31,751       -  
Total         $ 31,751       52,918  
           
          December 31,
2025		  
Related party   Name of entity     Payables     Receivables  
          (In U.S. Dollar)  
Individual that has control over the Company   EUN JONG CHOI     $ -       52,918  
Other related party   CUBEBIO Co., Ltd.       31,751       -  
Total       $ 31,751       52,918  

 

          December 31,
2024		  
Related party   Name of entity     Payables     Receivables  
          (In U.S. Dollar)  
Individual that has control over the Company   EUN JONG CHOI     $ -       50,618  
Other related party   CUBEBIO Co., Ltd.       30,371       -  
Total       $ 30,371       50,618  
CubeBio Co., Ltd. [Member]    
Entity Information [Line Items]    
Schedule of transaction with related parties
                                       
           

Six-month

period ended
June 30,
2026

     Six-month
period ended
June 30,
2025		  
Related party   Name of
entity		       Interest
income		     Interest
expenses		     Interest
income		     Interest
expenses		  
            (In thousands of Korean won)  
Entity that has significant influence over the Company   Well Core   ₩     -       11,973       -       715  
Entities controlled by Key Management Personnel   Dongsung D&C         5,560       -       -       -  
Entities controlled by Key Management Personnel   CubeBio Holdings         1,207       -       928       -  
Key management personnel   Noh Bin Park         -       -       -       1,472  
Key management personnel   Ho Sung Han         -       -       -       1,104  
Key management personnel   Eun Jong Choi         3,194       -       3,194       -  
Other related party   Gyung Ha Yu         -       -       -       1,218  
Total   ₩     9,961       11,973       4,122       4,509  
                                       
            2025     2024  
            Interest     Interest     Interest     Interest  
Related party   Name of entity       income     expenses     income     expenses  
              (In thousands of Korean won)  
Entity that has significant influence over the Company   Well Core(*1)   ₩     -       783       567       3,882  
Entities controlled by Key Management Personnel   Dongsung D&C(*2)         1,296       -       -       -  
Entities controlled by Key Management Personnel   CubeBio Holdings., Ltd.         1,980       -       550       -  
Key management personnel   Jae Myung Kim         -       -       -       62,234  
Key management personnel   Noh Bin Park         -       2,060       -       3,358  
Key management personnel   Ho Sung Han         -       2,171       -       2,519  
Key management personnel   Eun Jong Choi         6,440       -       23,257       -  
Other related party   Se Yoon Kim         -       -       -       16,594  
Other related party   Gyung Ha Yu         -       1,775       -       2,068  
Other related party   Jung Gon Kim         -       -       -       231,172  
Total   ₩     9,716       6,789       24,374       321,827  

 

 
(*1) Well Core Co., Ltd. (“Well Core”) is an entity that has significant influence over the Company.
(*2) Dongsung D&C., Ltd. (“Dongsung D&C”) was identified as a related party because it is controlled by a member of the Company’s key management personnel.
(*3) CubeBio Holdings., Ltd. (“CubeBio Holdings”) was recognized as entities controlled by key management personnel, as Eun Jong Choi, a key management personnel of the Company, has control over CubeBio Holdings., Ltd.
Schedule of receivables and payables account balances
                                       
            June 30,
2026		     December 31,
2025		  
Related party   Name of
entity		       Payables     Receivables     Payables     Receivables  
            (In thousands of Korean won)  
Entity that has significant influence over the Company   Well Core   ₩     1,011,973       -       -       -  
Entities controlled by Key Management Personnel   Dongsung D&C         1,280,000       326,856       -       221,295  
Entities controlled by Key Management Personnel   CubeBio Holdings         -　       55,859       -       45,564  
Key management personnel   Eun Jong Choi (*)         5,235       179,229       24,855       176,035  
Key management personnel   Yun Woo Choo         72,383       -       -       -  
Other related party   Jung Gon Kim         1,900,000       -       300,000       -  
Total   ₩     4,269,591       561,944       324,855       442,894  

 

 
(*) The Company provided a loan to Eun Jong Choi, a director of the Company, who resigned as CEO on January 30, 2026. As of June 30, 2026, compensation payable to the director was recorded as other payable and remained unpaid. Pursuant to a mutual agreement between the Company and the director, the unpaid compensation is expected to be applied against the outstanding loan receivable from the director. As the offsetting has not been executed as of June 30, 2026, the loan receivable and other payable are presented on a gross basis.
                                       
            December 31,
2025		     December 31,
2024		  
Related party   Name of entity       Payables     Receivables     Payables     Receivables  
           

(In thousands of Korean won)

    

(In thousands of Korean won)

  
Entities controlled by Key Management Personnel   Dongsung D&C   ₩     -       221,295       -       -  
Entities controlled by Key Management Personnel   CubeBio Holdings., Ltd.         -       45,564       -       44,650  
Key management personnel   Eun Jong Choi (*)         24,855       176,035       -       169,595  
Key management personnel   Noh Bin Park         -       -       16,738       -  
Key management personnel   Ho Sung Han         -       -       12,553       -  
Other related party   Jung Gon Kim         300,000       -       -       -  
Other related party   Gyung Ha Yu         -       -       10,478       -  
Total       ₩     324,855       442,894       39,769       214,245  

 

 
(*) The Company provided a loan to Eun Jong Choi, the CEO of the Company, who resigned as CEO on January 30, 2026. As of December 31, 2025, compensation payable to the CEO was recorded as other payable and remained unpaid. Pursuant to a mutual agreement between the Company and the CEO, the unpaid compensation is expected to be applied against the outstanding loan receivable from the CEO.
Schedule of changes in related party balances by account
                                       
            Six-month
period ended
June 30,
2026		  
Related party   Name of
entity		   Account   Beginning
Balance		     Increase     Decrease     Ending
Balance		  
            (In thousands of Korean won)  
Entity that has significant influence over the Company   Well Core   Borrowings     -       1,000,000       -       1,000,000  
Entity that has significant influence over the Company   Well Core   Accrued expense     -       11,973       -       11,973  
Entities controlled by Key Management Personnel   Dongsung D&C   Short-term loan receivable     220,000       100,000       -       320,000  
Entities controlled by Key Management Personnel   Dongsung D&C   Short-term loan receivable     1,296       5,560       -       6,856  
Entities controlled by Key Management Personnel   Dongsung D&C   Other payables- Advances received for allotment of common shares (*1)     -       1,280,000       -       1,280,000  
Key management personnel   Eun Jong Choi   Short-term loan receivable     140,000       -       -       140,000  
Key management personnel   Eun Jong Choi   Short-term loan receivable     36,035       3,194       -       39,229  
Entities controlled by Key Management Personnel   CubeBio Holdings   Short-term loan receivable     43,047       8,902       -       51,949  
Entities controlled by Key Management Personnel   CubeBio Holdings   Short-term loan receivable     2,517       1,393       -       3,910  
Other related party   Jung Gon Kim   Other payable- Advances received for sale of treasury shares (*2)     300,000       1,600,000       -       1,900,000  
Total     742,895       4,011,022       -       4,753,917  

 

 
(*1) The Company received an advance payment of KRW 1,280,000 thousand from Dongsung D&C in connection with a planned investment, which was recorded within other payables as of June 30, 2026, as no shares had been issued. Subsequent to the reporting date, the transaction was finalized as a third-party allotment of common shares, under which the advance payment will be applied as share subscription proceeds (refer to Note 29).
(*2) On November 4, 2025, the Company entered into an agreement with Jung Gon Kim to dispose of 1,000,000 treasury shares at KRW 3,000 per share, for total consideration of KRW 3,000,000 thousand. The Company received a down payment of KRW 300,000 thousand in the prior year and an interim payment of KRW 1,600,000 thousand during the six-month period ended June 30, 2026. As the shares had not been transferred as of June 30, 2026, the cumulative amount received of KRW 1,900,000 thousand was recorded as other payable.
                                       
            2025  
Related party   Name of entity   Account   Beginning
Balance		     Increase     Decrease     Ending
Balance		  
            (In thousands of Korean won)  
Entity that has significant influence over the Company   Well Core   Borrowings     -       270,000       270,000       -  
Entity that has significant influence over the Company   Dongsung D&C   Short-term loan receivable     -       220,000       -       220,000  
Entity that has significant influence over the Company   Dongsung D&C   Short-term loan receivable     -       1,296       -       1,296  
Key management personnel   Eun Jong Choi   Short-term loan receivable     140,000       -       -       140,000  
Key management personnel   Eun Jong Choi   Short-term loan receivable     29,595       6,440       -       36,035  
Entities controlled by Key Management Personnel   CubeBio Holdings., Ltd.   Short-term loan receivable     44,100       -       1,053       43,047  
Entities controlled by Key Management Personnel   CubeBio Holdings., Ltd.   Short-term loan receivable     550       1,967       -       2,517  
Key management personnel   Noh Bin Park   Bond with warrants (*1)     20,000       -       20,000       -  
Key management personnel   Ho Sung Han   Bond with warrants (*1)     15,000       -       15,000       -  
Other related party   Jung Gon Kim   Other payables     -       300,000       -       300,000  
Other related party   Gyung Ha Yu   Bond with warrants (*1)     15,000       -       15,000       -  
Total     264,245       799,703       321,053       742,895  

 

 
(*1) The amounts are presented in principal of bonds.

 

            2024  
Related party   Name of entity   Account   Beginning
Balance		     Increase     Decrease     Ending
Balance		  
            (In thousands of Korean won)  
Entity that has significant influence over the Company   Well Core   Short-term loan receivable ₩   309,112       -       309,112       -  
Entity that has significant influence over the Company   Well Core   Short-term Borrowings     -       400,000       400,000       -  
Key management personnel   Eun Jong Choi   Short-term loan receivable     600,000       -       460,000       140,000  
Key management personnel   Eun Jong Choi   Short-term loan receivable     6,338       23,257       -       29,595  
Entities controlled by Key Management Personnel   CubeBio Holdings., Ltd.   Short-term loan receivable     -       44,100       -       44,100  
Entities controlled by Key Management Personnel   CubeBio Holdings., Ltd.   Short-term loan receivable     -       550       -       550  
Key management personnel   Jae Myung Kim   Bond with warrants (*1)     700,000       -       700,000       -  
Key management personnel   Noh Bin Park   Bond with warrants (*1)     20,000       -       -       20,000  
Key management personnel   Ho Sung Han   Bond with warrants (*1)     15,000       -       -       15,000  
Other related party   Se Yoon Kim   Bond with warrants (*1)     210,000       -       210,000       -  
Other related party   Gyung Ha Yu   Bond with warrants (*1)     15,000       -       -       15,000  
Other related party   Jung Gon Kim(*2)   Bond with warrants (*1)     2,400,000       -       2,400,000       -  
Total ₩   4,275,450       467,907       4,479,112       264,245  

 

 
(*1) The amounts are presented in principal of bonds.
(*2) The Company recognized Jung Gon Kim as a related party as Jung Gon Kim is a close family member of Jae Myung Kim, a key management personnel.
Schedule of compensation for key management personnel
                   
        Six-month
period ended
June 30,
2026		     Six-month
period ended
June 30,
2025		  
        (In thousands of Korean won)  
Short-term employee benefits   ₩     177,950       245,000  
Retirement benefit         18,422       23,951  
Total   ₩     196,372       268,951  
                   
        2025     2024  
        (In thousands of Korean won)  
Short-term employee benefits   ₩     453,226       402,519  
Retirement benefit         48,434       30,292  
Total   ₩     501,660       432,811