Converge Inc. Reports Derivative Trading Losses Amounting to 1.9 Billion Won

[Asia Economy Reporter Minji Lee] Converz disclosed on the 30th that it incurred a derivative transaction loss of 1,991,080,000 KRW.

This corresponds to 12.94% of its equity capital. The company explained, "Due to the difference between the conversion price of convertible bonds and the stock price caused by the stock price increase, the fair value of derivative financial instruments was assessed, resulting in the recognition of an evaluation loss."