DAEHO AL Reports Loan Principal and Interest Arrears of 5.84 Billion Won, 6.17% of Equity
DAEHO AL disclosed that it defaulted on loan principal and interest payments to Korea Eximbank and iM Bank as of June 29, 2026. The total arrears amount to 5.84 billion won including 5.77 billion won in principal and 0.8 billion won in interest, representing 6.17% of equity of 94.68 billion won. The reason for the default is insufficient repayment funds, and the company is negotiating revised repayment schedules with the financial institutions.
The loans consist of export growth funding and usance dollar-denominated debt. A previous acceleration of maturity occurred on April 7, 2026, but was not disclosed as it was below 5% of equity; the cumulative arrears now exceed that threshold. Due to an audit opinion denial for the 2025 financial statements, equity is based on the 2024 year-end figures.
The default highlights the company's liquidity risk and may lead to forced restructuring, capital raising, or asset sales, which could dilute existing shareholder value. Investors should closely monitor the situation.
[AI Summary]DAEHO AL's loan default signals deteriorating financial health, compounded by an audit qualification, severely damaging credibility. Continued downward pressure on the stock price is likely if short-term funding becomes constrained.