PSMC, Decision to Provide Debt Collateral for Subsidiary Company

[Asia Economy Reporter Minji Lee] PSMC announced on the 18th that its subsidiary PSMP (PSMC Philippines) has decided to provide collateral for the loan of 3,278.4 million KRW borrowed from Poongsan.

The collateral amount is approximately 9.3 billion KRW, and the collateral property is the stock certificates of PSMP. The collateral amount corresponds to 46% of the equity capital. The collateral provision period is from the 31st of this month to December 30th of next year.