Saemaeul Geumgo Central Association Approves 200 Billion KRW Paid-in Capital Increase for Subsidiary MG Capital

Enhancing MG Capital's Funding Competitiveness
Expectations for Increased Corporate Value Through Business Structure Stabilization

Exterior view of Saemaeul Geumgo Central Association.

On April 21, Saemaeul Geumgo Central Association held a board meeting and decided to carry out a paid-in capital increase of 200 billion KRW for its subsidiary, MG Capital, the association announced on April 23.

MG Capital is a specialized credit finance company primarily engaged in industrial and corporate finance, and was established in 1997. On February 28 of this year, the Central Association acquired a 98.37% stake in M Capital and subsequently changed its name to MG Capital.

The Central Association plans to complete the paid-in capital increase for MG Capital through the scheduled payment of subscription funds in May.

A representative of the Central Association stated, "Through this paid-in capital increase, the Central Association is demonstrating its commitment to supporting MG Capital. We expect this will enhance MG Capital's funding competitiveness, including an upgrade in its credit rating," adding, "We will improve MG Capital's financial structure and, in the long term, enhance its corporate value by stabilizing its business portfolio centered on its strength in industrial finance."