Haesung Industry Decides to Absorb and Merge with Hanguk Paper

[Asia Economy Reporter Seulgina Jo] Haesung Industry announced on the 1st that it has decided to absorb and merge with Hanguk Paper. The merger ratio is 1 to 1.6661460, and the merger date is July 1.

The company explained the purpose of the merger as "part of the governance restructuring process to simplify the shareholding structure among affiliates in the mid to long term," adding, "to enhance transparency in governance and establish responsible management for each business division to increase corporate value."