Hanjin Kal Decides to Enter into a 200 Billion KRW Capital Supplement Agreement

[Asia Economy Reporter Lee Jung-yoon] Hanjin KAL announced on the 13th that it has decided to enter into a capital replenishment agreement with the lending group regarding the refinancing of borrowings of its subsidiary, Kal Hotel Network.

The amount of the capital replenishment agreement is approximately 200 billion KRW, which corresponds to about 10.96% of Hanjin KAL's consolidated equity capital of 1.8242 trillion KRW as of the end of last year.

The company stated, "In the event of a shortage of principal and interest repayment funds for the borrowings of Kal Hotel Network, funds will be replenished to Kal Hotel Network through a paid-in capital increase."