KG Steel completes small-scale merger of two wholly-owned subsidiaries; no new shares issued, no dilution

Merger Details: KG Steel completed small-scale mergers of its wholly-owned subsidiaries KG Steel S&I Co., Ltd. and KG Steel S&D Co., Ltd.
Shareholder Impact: Merger ratio 1:0, no new shares issued; no change in ownership percentage for major or minority shareholders.
Opposition: 1,382 shareholders representing 2.235% of total shares opposed the merger, but appraisal rights were not granted due to the small-scale merger nature.
Financial Impact: Post-merger equity decreased by approximately KRW 11.4 billion due to subsidiaries' deficit, with no direct impact on operations or cash flows.
[AI Summary]This internal restructuring involves no dilution and is expected to enhance long-term enterprise value by streamlining corporate governance and improving management efficiency.