Paper Korea, Trading Halted in After-Hours Market

[Asia Economy Reporter Kim Min-young] The Korea Exchange Market Division announced on the 24th that trading of Paper Korea in the after-hours market has been suspended. The reason for the trading suspension is that more than 50% of the capital has been eroded. The trading suspension will be lifted at 9 a.m. on the 25th.

The company stated on the same day, "At the extraordinary general meeting of shareholders, a capital reduction (by 66.67%) was resolved," adding, "The largest shareholder exercised conversion rights on 10 billion KRW of the 109th convertible bonds held. This capital erosion is expected to be resolved on the record date for the capital reduction, which is the 5th of next month."