Asia
Hyosung Heavy Industries Takes KRW346 Billion Debt After Jamwon Project Misses Deadline
Hyosung (KRX:004800) will assume 346.3 billion won in project financing debt related to the Jamwon-dong mixed-use development, triggered by the company's failure to meet the contractual completion deadline of July 31.The debt assumption, representing 13.9% of the company's equity, takes effect on Aug. 1, following a management committee resolution on July 31, according to a bourse filing on Friday.The amount covers the outstanding principal and interest owed by the original borrower to lenders as of the assumption date.
KRX:004800
