Namhae Chemical Decides on Short-Term Borrowing of 297 Billion KRW

[Asia Economy Reporter Hwang Yoon-joo] Namhae Chemical announced on the 25th that it has decided to secure short-term borrowings amounting to 297 billion KRW to participate in the Ministry of Agriculture, Food and Rural Affairs' mineral fertilizer raw material purchase fund support project. This amount corresponds to 63.54% of its equity capital.

The company stated, "We have been selected for the support project and plan to receive policy funds loaned by the Ministry of Agriculture, Food and Rural Affairs," adding, "The interest rate is zero if repaid by December 31, 2022, and a 3% interest rate will apply if repaid after 2023."