From Naver news in Korea . I think its an AI based news agency in part and to some extent. I started looking at some of the people and companies and parts of the story to learn more about the people in the article but will do more when i have time . This came out in July. Lots of stuff involving Coretec ,QWM IS Media etc J&'s is i think #J&D. i believe its J&D Co Ltd . ive looked up quite a bit of news on them before. XT ESS Fund is a US investment firm i think is XT Equity the investment firm Coretecs people have been involved with . Joseph Cohen, the CFO of the XT ESS Fund is associated with Coretec in filings ive find . ill look up the company he organized for the group. He accually organized Xtractcarb Corp for XT Equity lc in Virginia . They just moved to Wyoming about a month ago . They produce a new type of Carbon for batteries thats cleaner . I always thought they might supply carbon for the giga plant Coretec has talked about . Its called activated carbon https://www.sciencedirect.com/topics/agricultural-and-biological-sciences/activated-carbon.
K-OTC J&D, Concerns Rising Surrounding Major Shareholder By Sung Woo-chang 2025.07.10 08:00:24 ? Figures from the Heliatek and Zygle Incidents Appear in Unlisted Companies This article appeared on the paid content service DealSiteTV Plus at 6:05 AM on July 9, 2025. Recommended Keywords #J&D #Hong Pyeong-hwa #Kim Seon-gi #DKME #Ismedia #Heliatek #Axios All News Ranking News [DealSiteEconomicTV Reporter Sung Woo-chang] The names of figures previously featured in delisted or crisis-hit listed companies like Heliatek, Ismedia, DKME, and Zygle are now appearing in unlisted companies. Their traces, from changes in shareholder composition to new business ventures and large-scale investments, have spread to K-OTC-listed companies. The unclear flow of funds and the identity of the major shareholder are fueling anxiety among other investors.
J&, a K-OTC-listed company, was founded in 2008 and engages in the manufacturing and sales of cosmetics, health foods, medical devices, and aesthetic devices. Until 2020, CEO Gil Tae-jin, Jeongju Construction, and Jeong Jeong, the director of Forever Plastic Surgery, held the largest shareholder positions.
However, in December 2020, signs of change began to appear in J&'s governance structure. At the time, J& resolved to increase capital through a third-party allocation, and the names of CEO Gil, Director Jeong, and Kim Seon-gi were listed as potential allotments. Kim Seon-gi, formerly known as the CEO of The Core Tech Group and DKME, was also listed as an allotment recipient.
Furthermore, on December 21, 2021, a third-party allocation capital increase targeting Kim In-seok, formerly the chairman of TPA Group, was approved. Kim In-seok also appeared in the Heliatek, DKME, and Zygle cases, and is currently under investigation by the prosecution after being accused of embezzlement and breach of trust by Izmedia. However, this paid-in capital increase was canceled at the end of 2022 after repeated delays.
Related Articles: The Shadow of "Hong Pyeong-hwa" Casts a Shadow on Izmedia, Ending Another Delisting. Heliatech's Stock Price Manipulation Under the Pretense of Resource Development... Ends with Delisting. In April 2023, J& suddenly convened an extraordinary general meeting of shareholders and amended its Articles of Incorporation, adding environmental and waste treatment as new businesses. Later, J& pursued a coffee grounds-based activated carbon upcycling business as a new business.
On December 22nd of the same year, J& decided to issue its first convertible bond worth 2.5 billion won to the XT ESS Fund. XT ESS Fund, also affiliated with the US-based XT Group, whose beneficial owner is Hong Pyeong-hwa, announced a 30 billion won paid-in capital increase for Zygle, but ultimately failed to pay.
According to a J&A announcement, XT ESS Fund is a US investment firm that announced its intention to list on the NASDAQ through a SPAC merger. However, XT ESS Fund's actual address at the time was Seocho-dong, Gangnam-gu, Seoul. Furthermore, an environmental company and the J&A consortium announced that they had agreed to acquire Company B for 15 billion won and were in detailed negotiations, but this was later canceled.
Suspicious activity surrounding J&A continues. The following year, in September 2024, the largest shareholder changed to Axios Equity Fund LLC (hereinafter Axios) along with a third-party allocation paid-in capital increase. The second largest shareholder is Quantum Wealth Management LLC (hereafter, Quantum).
Axios, which held shares in the DKME case and then transferred them to The Core Tech, is listed as CEO Kim Seon-gi and the largest shareholder as Minh Nguyen Le. Minh Le is also listed as an executive at Hong Pyeong-hwa's Irvine Asia, a director at Ismedia, the CEO of XT ESS Fund, an executive at Zaycell, and an executive at The Core Tech.
Quantum, the second largest shareholder, also acquired all of DKME's shares from The Core Tech this month, becoming the largest shareholder. However, a day later, it transferred all of its shares back to US-based DKME Inc. The CEO of Quantum was reportedly involved in the DKME case and recently attended the Securities and Futures Commission meeting under the Financial Services Commission.
In October of the same year, J&D decided to invest 4.1 billion won in XtractCarb Corp., a US-based eco-friendly activated carbon manufacturer and distributor. This investment amounted to 73.43% of J&D's total equity capital. The representative of this entity was Joseph Cohen, the CFO of the XT ESS Fund and the person who sent the withdrawal letter to Zygle regarding the paid-in capital increase.
Ultimately, most of the entities and individuals associated with Hong Pyeong-hwa and Kim Seon-gi, who had frequently appeared in dubious cases such as Heliatek, DKME, and Zygle, have now joined J&D. While J&D is still unlisted, its stock is traded on the K-OTC market, raising concerns about potential harm to individual shareholders.
J&D's management is aware of the controversy but maintains that there are no significant issues.
Gil Tae-jin, CEO of J&T, stated, "We are aware of the controversy surrounding our major shareholder, but it has nothing to do with J&T, and the business is proceeding without any issues." He also emphasized, "If there was any intention of fraud, the current thorough exchange of information and actual transactions would not have occurred."
Reporter Seong Woo-chang suc@dealsitetv.com
?Looking at the market with fresh eyes. Dealsite Economic TV. Unauthorized reproduction and distribution prohibited.
Dealsite S Successful Investment Series Linked Names This article was published on the paid content service Dealsite TV Plus at 6:00 AM on July 9, 2025. 43 days ago DKME, Frequent Major Shareholder Changes... The Reality Is 'Unclear' 44 days ago The Shadow of 'Hong Pyeong-hwa' Casts a Shadow on Izmedia, Ending with Another Delisting 45 days ago Heliatech's Stock Price Manipulation Under the Pretense of Resource Development... Ends with Delisting Recommended News DealSite News recommended by the Economic TV News and Editorial Department
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