I-ON Communications Corp. Announces the Appointment of Four New Independent Board Members and Opening of New U.S. Headquarters

SEOUL, South Korea, Aug. 10, 2018 /PRNewswire/ -- I-ON Communications, Ltd. ("I-ON" or the "Company") (OTCQB: IONI), www.i-on.net, a Seoul, South Korea based global enterprise software company focused on delivering leading CMS and unstructured data management products and solutions to mid and large-scale enterprises, is pleased to announce the appointment of four new independent directors, which increases the size of I-ON's Board of Directors to seven from three currently held by Chairman Mr. Jae Cheol ("James") Oh, Mr. Hong Rae Kim and Mr. Jae Ho Cho. The appointment of the following four independent directors is intended to meet the corporate governance standards set forth by the OTCQX and national stock exchanges.

Mr. Eugene Hong.  Mr. Hong's career at Samsung, most recently as Executive Vice President of Samsung Venture Investment Co, Ltd., spans over 25 years. Between 1992 and 1998, he served as a Director in the production, planning and strategy divisions for both Samsung Motors Co., Ltd. and Samsung Techwin Co., Ltd. In 1999, Mr. Hong transitioned to the Samsung Venture team initially as a Director, rising to Vice President, Senior Vice President and eventually to his current role as Executive Vice President, focusing primarily on managing technology and industrial related investments. Since 2013, Mr. Hong has originated, spearheaded and overseen over twenty investments across multiple high growth sectors including, among others, enterprise software, network security solutions, AI, optical equipment/OLED laser, autonomous driving, block chain, mobile and battery technologies. Mr. Hong received his B.S. from Korea University in 1984, M.S. from Texas Tech University in 1986 and PhD from Arizona State University in 1991. 

Mr. Armand Pastine.  Mr. Pastine serves as the CEO of CG Capital Markets, LLC, a New York and Florida-based investment banking boutique specializing in Middle Market Sales and Trading, Institutional Structured Credit Products, and Capital Markets Placements of debt and equity investments to Qualified Institutional Buyers. Mr. Pastine began his career in the Financial Strategies Group at Prudential Securities, with a primary focus on Mortgage and Asset-Backed related securities. He previously worked as a Vice President in Goldman Sachs' Principal Finance Group and held various positions at a number of leading middle-market investment banks specializing in Structured Products and Esoteric Securities including most recently at Maxim Group, LLC, where he served as Executive Managing Director and the Head of Fixed Income. Mr. Pastine received his B.A. in Political Communications from the University of Rhode Island and his J.D. with an emphasis on Public Policy Analysis, from CUNY School of Law.  He is admitted to the Bar in New Jersey.

Dr. Jean Koh. Dr. Jean Koh has over 25 years of technology and senior executive experience with publicly and privately held companies within the multi-media and mobile content technology verticals. Dr. Koh is currently serving as the Chairman of the Korea Mobile Internet Business Association (MOIBA), a leading association with over 500 mobile internet companies and industry executives. In 1994, Dr. Koh founded Baro Vision - now KOSDAQ-listed Galaxia Communications - a leading domestic developer of proprietary video compression technology, which has since transformed itself into one of South Korea´s market share leading providers of comprehensive e-payment solutions. Dr. Koh received his PhD. in Computer Science from Syracuse University and currently serves as a key member on the 'Presidential Committee of the Fourth Industrial Revolution' under the Moon Jae-In Administration.

Mr. Charlie Baik.  Mr. Charlie Seung Taik Baik currently serves as the Chief Operating Officer and Chief Compliance Officer of EZER, Inc., a leading multi-purpose engineering firm that addresses the needs of the utility, sustainable energy and industrial sectors. Since August 2006, Mr. Baik has also served as EZER, Inc.'s Chief Marketing Officer. Previously, Mr. Baik held the positions of Senior Executive Vice President and Chief Marketing Officer of NASDAQ-listed Gravity Co., Ltd, a leading PC and mobile game publisher with numerous titles under its belt and the maker of the world famous 'Ragnarok Online', a massive multi-player online role-playing game. Mr. Baik also served as the Chief Operating Officer of Gravity Co., Ltd. from August 2006 to June 2008 and as the Chief Executive Officer of NEOCYON, Inc. since 2000.

Jae Cheol ("James") Oh, Chairman and CEO of I-ON commented, "We're very pleased to welcome Eugene, Armand, Jean and Charlie to I-ON's Board of Directors. Their extensive experience in corporate finance, capital markets and mergers and acquisitions, and the insights they have all gained as senior executives, advisors or board members across a broad range of industries over their distinguished careers will bring valuable perspectives to our board as we focus on delivering greater returns from our business lines, funding investments to accelerate top and bottom line growth and enhancing shareholder value."

U.S. Expansion & Opening of New York City Office

I-ON is also pleased to inform the public that the Company has officially expanded its footprint in North America with the opening of its first U.S. office location at 733 Third Avenue, 24^th Floor, New York NY, which will also serve as the Company´s international headquarters and be geared towards more intimately addressing the needs of prospective clients and the financial community.

Chairman and CEO Jae Cheol Oh further commented, "In addition to expanding our global footprint to support the Company´s growth strategy, the decision to open up a New York City office was a logical next step, particularly from an investor relation and recruiting perspective. New York City is obviously not only the world's financial capital, but is also an area rich with a diverse talent pool, prestigious educational institutions and numerous promising small to mid-size and large-scale enterprises that may seek to partner with I-ON in some relevant capacity, including perhaps cooperating on an East Asia market entry strategy. Over time, we look forward to having the opportunity to further expand staffing and, thus, our capabilities in software engineering, professional services, customer support and sales and marketing." 

About I-ON Communications Corp.

I-ON Communications, Corp, is a Seoul, South Korea-based enterprise software company founded in 1999. After being awarded its first of six patents by 2003, the Company has since evolved into an industry-leading and recognized developer of enterprise-class unstructured data management and digital marketing software solutions. I-ON has sold to over 1,000 mid to large clients across numerous verticals in both the private and public sectors, primarily throughout South Korea, Japan and Southeast Asia. The Company has 11 products at market that enable clients to create, measure, and optimizes digital experiences for their audiences across marketing channels and devices. These encompass enterprise web content management (CMS), web experience and service delivery software, digital marketing, smart mobility and analytics tools and energy management systems. I-ON's large R&D team has designed and developed industry-leading technologies that are compliant with global standards including GS (Good Software) and NET (New Excellent Technology), while holding numerous domestic and global industry awards and recognition from the likes of Gartner and Red Herring.

Forward Looking Statements

Statements in this document contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on many assumptions and estimates and are not guarantees of future performance. These statements may involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Our actual results may differ materially from the results anticipated in these forward-looking statements due to a variety of factors, including, without limitation those set forth as "Risk Factors" in our filings with the Securities and Exchange Commission ("SEC"). There may be other factors not mentioned above or included in the Company's SEC filings that may cause actual results to differ materially from those projected in any forward-looking statement. The Company assumes no obligation to update any forward-looking statements as a result of new information, future events or developments, except as required by securities laws.

Company Contact
SM Lee / Byung Woo Yu
[email protected]

SOURCE I-ON Communications Co., Ltd.

Related Links

http://www.i-on.net