Gaon Media Decides on 12.4 Billion KRW Subsidiary Debt Guarantee

[Asia Economy Reporter Kang Nahum] Gaon Media announced on the 24th that it has decided to provide a debt guarantee worth 12.4 billion KRW for its network and communication equipment manufacturing subsidiary, Gaon Broadband.

The guarantee amount corresponds to 7.73% of the company's equity capital. The debt guarantee period is from the 30th of this month to March 30, 2022. The total outstanding balance of the debt guarantee is 49.22197 billion KRW.