Correction Announcement: Delay in Debt-to-Equity Conversion Schedule for Vietnam Subsidiary Dong-IL Interlining
Reason: Delay in processing by Vietnamese authorities; acquisition date changed from April 30, 2026 to May 15, 2026
Details: Debt-to-equity conversion of USD 2,000,000 (part of total USD 6,268,773 receivable) to acquire shares worth 2,979,600,000 won (7.29% of equity)
Purpose: Improve financial structure of major subsidiary Dong-IL Interlining
Target financials: Total equity 416 million won, total debt 9.49 billion won, net loss 923 million won (unqualified audit) — weak financial condition
Other: Maintains 100% stake after acquisition; board meeting had no outside directors present (2 absent)
KOSPI Filing Information
Filing: [Correction of Description] Decision on Acquisition of Stocks and Equity Securities of Other Corporations