[Asia Economy Reporter Minji Lee] SGC Energy announced on the 18th that it has decided to provide a debt guarantee of 192 billion KRW for Cheongra Plus.
The debt guarantee amount corresponds to 28.74% of its equity capital as of 2020.
This pertains to fulfilling the obligation of compensation for damages in case of non-fulfillment of the completion guarantee related to the new construction of the Cheongra officetel in Incheon. The obligation for compensation will be extinguished upon fulfillment of the completion guarantee.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
