[Asia Economy Reporter Jang Hyowon] Kukbo, the largest shareholder of Vogner International, which operates the golf apparel brand 'Vogner,' denied the rumors of selling Vogner raised by a certain media outlet on the 21st, calling them 'groundless.' Additionally, they stated they would take a 'strong stance' against malicious rumors.
On the 21st, Kukbo responded to reports suggesting the sale of the golf wear brand Vogner, saying, "Currently, the sale of Vogner is not under consideration." They also emphasized, "There are no plans to improve the financial structure through the sale of Vogner International, nor is there any review or progress regarding a sale."
Kukbo explained, "Based on separate financial statements, a debt ratio of 130% is considered favorable. On the 10th, Kukbo converted Vogner's loans into equity, raising its shareholding to 94.7%. This has resulted in an increase in total capital, a decrease in total liabilities, and an increase in net income due to the reduction of short-term borrowings."
A Kukbo official stated, "We will strongly respond to any future rumors about Kukbo's plans to sell Vogner."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
