Daeyu AP "Subsidiary Daeyu Plus Faces Electronic Promissory Note Default"

Daeyu AP announced on the 12th that its affiliate company Daeyu Plus experienced a dishonor of electronic promissory notes amounting to 48,322,175 KRW.

The creditors are Kookmin Bank and The Highest 33rd. The payment guarantees provided by Daeyu AP are 870,833,355 KRW and 8,880,000,000 KRW, respectively.

Daeyu Plus's holdings of 2.1 million shares of Daeyu A-Tech and 3 million shares of Daeyu AP are also pledged as collateral.

The company stated, "We plan to overcome the liquidity crisis through corporate rehabilitation, improve the financial structure, and repay the debt."