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KG Dongbu Steel Pledges K Car Shares as Loan Collateral

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KG Dongbu Steel (KRX:016380) resolved to pledge 19.2 million shares of used car platform K Car as collateral for a total loan arrangement of 155 billion won, according to a bourse filing on Monday.

The collateral, valued at 137.5 billion won based on K Car's July 30 closing price, covers both KG Dongbu Steel's own 100 billion won borrowing and K Mobility Value Up's 55 billion won loan.

The collateral period runs for five years from the initial drawdown date, which has yet to be determined, and the transaction remains subject to conditions, including regulatory approval.

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