APS 將合併全資子公司 UPI

(Photo: APS)

APS plans to absorb its subsidiary UPI through a merger.

The company said the move is intended to simplify its management structure and improve operational efficiency.

APS’s board of directors approved the merger with UPI on Oct. 26. The merger is scheduled to take effect on Jan. 4, 2027. APS will remain the surviving entity, while UPI will be dissolved. APS owns 100% of UPI. As the transaction will involve no issuance of new shares, the merger ratio has been set at 1:0 (APS:UPI).

“By directly incorporating revenue from UPI’s business operations, we expect to strengthen our competitiveness and maximize corporate value,” APS said. “We also intend to diversify our product portfolio by directly entering the power equipment manufacturing machinery business.” UPI recorded revenue of approximately 9.5 billion won and operating profit of about 2 billion won in 2025.

“We expect to maximize technological and business synergies by combining the group’s capabilities in robotics, automation and remote control with UPI’s power equipment manufacturing machinery technologies,” the company said. APS’s affiliates include AP Systems, APS Innovation and Nextin.

UPI develops cut-to-length (CTL) machines, foil winding machines, coil winding machines and E-stacking robotic systems used in transformer manufacturing. The company holds a 95% share of South Korea’s domestic CTL market.

APS acquired a 100% stake in UPI, comprising 30,000 shares, for 18 billion won in July.

In August, APS appointed Kwon Young-chan, its vice chairman and former CEO of Zenith World, as UPI’s CEO, considering him suitable to lead post-merger integration (PMI). Kwon became vice chairman of APS earlier in 2026 following the merger of Zenith World into APS. He currently serves concurrently as UPI’s CEO.