Alticast to spin-off media business into new company

At the extraordinary general meeting of shareholders of Alticast Corporation (the “Spun-Off Company”) held on October 30, 2019, it was resolved that the Spun-Off Company will establish a new company (tentatively, “Altimedia Corporation”) by spinning-off its media business targeting Korean cable and EMEA/Asia broadcasting companies, excluding media business targeting KT/Skylife and North American broadcasting companies, in order to enhance its management effectiveness and strengthen its competitiveness.