Dongbu Group chairman to lose ownership of steelmaker

Home > Business > Industry

print dictionary print

Dongbu Group chairman to lose ownership of steelmaker




Dongbu Group Chairman Kim Jun-ki will lose his ownership in Dongbu Steel after the nine creditors unanimously approved a normalization plan that includes a debt-to-equity swap and a capital reduction of shareholders.

Kim and group affiliates have a nearly 37 percent stake in Dongbu Steel, but when the capital reduction and debt-to-equity swap occurs, their ownership share falls below 1 percent, compared to more than 51 percent for creditors.

More in Industry

Chaebol heads talk shop at closed-door dinner

Arkana arrives

Low battery

Kitting up

I've got two words for you: Biodegradable plastic

Log in to Twitter or Facebook account to connect
with the Korea JoongAng Daily
help-image Social comment?
lock icon

To write comments, please log in to one of the accounts.

Standards Board Policy (0/250자)

What’s Popular Now