Dongwon Industries "Dongwon Loex, Absorption Merger with Modex"

[Asia Economy Reporter Kang Nahum] Dongwon Industries announced on the 16th that its subsidiary Dongwon Loex has merged by absorption with Modeks, a transportation and warehousing company.

Dongwon Loex owns 100% of Modeks' shares, so the merger was carried out as a non-capital increase merger without issuing new shares. Accordingly, the merger ratio was calculated as 1:0.0000000.

Dongwon Industries stated, "Through the merger, we aim to achieve management efficiency by sharing human and material resources between existing businesses for efficient organizational operation and reducing management costs through resource sharing."