[Asia Economy Reporter Hyunseok Yoo] Yeon E&B T announced on the 28th that it received a dividend of 6.4 billion KRW from its affiliate Yeon Electronics Soju Co., Ltd. The company plans to use the dividend funds to stabilize its electronics business division.
The company had confirmed the transfer of part of its manufacturing facilities through a board resolution on September 16. At that time, the amount was 4.4 billion KRW, and after the contract was finalized, the sales proceeds and additional retained funds were paid as dividends to the headquarters.
A company official stated, "This decision was made in preparation for the expected high volatility in the display market," adding, "Since the company is currently undergoing a substantial review for listing eligibility, we plan to focus all efforts on stabilizing the existing electronics business division." He continued, "Next year, we expect the performance planning business to normalize due to the easing of the COVID-19 situation, and we will prepare accordingly."
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