095340· ISC· Filed July 23, 2026Schedule 13D/Ghigh
GIC Private Limited Crosses 5% Threshold via On-Market Purchase
Original: 주식등의대량보유상황보고서(약식)
Summary
Singapore's sovereign wealth fund GIC Private Limited has filed a new large-shareholding report after accumulating 1,079,480 shares of ISC (KOSDAQ: 095340), representing a 5.093% stake. The position was built entirely through open-market purchases on July 15–16, 2026, at average prices of approximately KRW 158,500 and KRW 145,422 respectively. GIC disclosed the holding purpose as pure investment (단순투자) with no intention to influence management. As a wholly state-owned Singaporean sovereign wealth fund with over USD 100 billion in assets under management, GIC's entry above the 5% disclosure threshold is a notable institutional vote of confidence in ISC.
Full Translation
Large Shareholding Report (Abbreviated)
[Report Type: Abbreviated Form — Filed pursuant to Article 147 of the Financial Investment Services and Capital Markets Act; purpose is NOT to influence management control; reporter qualifies as a professional investor under the same article, paragraph 1, latter clause]
To: Financial Services Commission
To: Korea Exchange
Obligation Trigger Date: July 16, 2026
Report Reference Date: July 16, 2026
Reporter: GIC Private Limited
─── Summary ───
Professional Investor Special Reporting Exemption Category: N/A
Issuing Company: ISC Co., Ltd. (주식등의대량보유상황보고서(약식))
Relationship with Issuing Company: Other
Report Type: New Filing
Shares Held (Number / Ratio):
Previous Report: — / —
This Report: 1,079,480 shares / 5.093%
Voting Rights (Number / Ratio):
Previous Report: — / —
This Report: 1,079,480 / 5.093%
Reason for Report: New filing upon crossing the 5% ownership threshold
Purpose of Holding: Pure investment (no management influence intended)
Declaration: The reporter confirms that, as of the report reference date, the shareholding status of the reporter and related parties has been accurately prepared in accordance with applicable laws and disclosure guidelines, and that there are no material misstatements or omissions.
Declaration Letter (Pure Investment Purpose): [Attached image — declaration letter isc.jpg]
─── Part 1: Report Overview ───
1. Issuing Company
Company Name: ISC Co., Ltd.
Company Code: 095340
Entity Type: KOSDAQ-listed corporation
Total Voting Shares Outstanding: 21,197,058
2. Large Shareholder Details
a. Reporter
(1) Reporter Overview
Report Type: New Filing / Individual
Reporter Type: Foreign corporation
Nationality: Singapore
Name (Korean): 지아이씨 프라이빗 리미티드
Name (English): GIC Private Limited
Address: 168 Robinson Road #37-01 Capital Tower, Singapore 068912
Business Registration No. (Equivalent): 198102265N
Business Activity: Asset Management Company
Relationship with Issuing Company: Other
Contact Person:
Affiliated Company: Standard Chartered Bank Korea (SC제일은행)
Department: Securities Operations Department
Title: Deputy General Manager
Name: Hwang Seon-yeong
Phone: 02-370-XXXXXX
Fax: 02-370-XXXXXX
Email: ******ng.hwang@sc.com
(2) Detailed Information on Reporter (Corporate Entity)
Legal Form: Limited Liability Company
Total Assets (AUM): USD 100,000,000,000
Total Liabilities: —
Total Equity: —
Paid-in Capital: SGD 2,000,000
Representative: Wong Hui Ping, GIC
Decision-Making Body: Discretionary fund manager
Largest Shareholder: Minister for Finance
Largest Shareholder Ownership: 100%
(Asset figures in USD; capital figures in SGD)
b. Related Parties
(1) Related Party Overview: None
(2) Related Party Details (Corporate): None
c. Collective Investment Manager
Not applicable (reporter is not a collective investment vehicle as defined under Rule 3-10(2)).
3. Shares Held — Number and Ratio
Report Reference Date: July 16, 2026
Reporter: GIC Private Limited
Related Parties: None
Shares Held: 1,079,480 (5.093%)
Voting Shares Held: 1,079,480 (5.093%)
Total Voting Shares Outstanding: 21,197,058
Change vs. Previous Report: +1,079,480 shares (+5.093%)
4. Reason for Change
Method of Change: On-market purchase
Reason: Simple share purchase
Other Changes: None
─── Part 2: Large Shareholding Details ───
1. Breakdown by Security Type (Reporter and Related Parties)
Reporter — GIC Private Limited (198102265N):
Voting common shares: 1,079,480
All other categories (warrants, CBs, BWs, exchangeable bonds, DRs, other): —
Total: 1,079,480 shares / 5.093%
Related Parties: None
Summary Calculation:
A (voting shares held): 1,079,480
I (total voting shares outstanding): 21,197,058
H (latent shares): —
Shareholding ratio (shares + latent / outstanding + latent): 5.093%
Share ratio (shares only / outstanding): 5.093%
2. Own-Account vs. Client-Account Breakdown (financial institutions only): Not applicable.
─── Part 3: Changes Since Previous Report ───
1. Summary of Changes
Reporter — GIC Private Limited (198102265N):
Change in voting shares: +1,079,480 (+5.093%)
All other categories: —
Net change total: +1,079,480 / +5.093%
Related Parties: None
2. Detailed Transaction Log
(Unit: shares, KRW)
GIC Private Limited (198102265N)
Date: July 15, 2026
Method: On-market purchase (+)
Type: Voting common shares
Before: 0 → Change: +1,058,998 → After: 1,058,998
Price per share: KRW 158,500
Note: Below 5% threshold as of July 15, 2026 closing price basis applied.
Date: July 16, 2026
Method: On-market purchase (+)
Type: Voting common shares
Before: 1,058,998 → Change: +20,482 → After: 1,079,480
Price per share: KRW 145,422
Note: —
[Regulatory Note: Pursuant to Articles 154(4) and 154(5)(ii)–(iii) of the Enforcement Decree of the FSCMA, for state entities, local governments, the Bank of Korea, and professional investors exempt from the standard reporting requirement whose holding purpose is not to influence management control, changes may be aggregated by obligation trigger date; the acquisition/disposal method and unit price fields may be omitted.]
[Translation truncated — original document ends at the footnote regarding on-market securities trading procedures]
+4.85%
Jul 1, 2026
₩170,700
₩142,500
-16.52%
Jun 2, 2026
₩211,500
₩182,000
-13.95%
Apr 15, 2026
₩224,500
₩239,500
+6.68%
Apr 1, 2026
₩264,000
₩257,000
-2.65%
Mar 5, 2026
₩202,000
₩178,100
-11.83%
Mar 5, 2026
₩202,000
₩178,100
-11.83%
Feb 10, 2026
₩168,900
₩187,000
+10.72%
Feb 2, 2026
₩137,200
₩175,800
+28.13%
Past performance does not guarantee future results. Small sample sizes may not be representative. For informational purposes only.