Petrochemical Company Creditors to Hold Autonomous Council Agreement Ceremony Next Week

As the restructuring of petrochemical companies is underway, the first meeting of the creditors' council will be held.

According to the financial sector on September 24, the creditors of petrochemical companies, including Korea Development Bank, will hold the inaugural ceremony for the autonomous creditors’ council agreement on September 30.

During this event, the creditors are expected to discuss financial support measures for petrochemical companies.

Last month, during a meeting on "Petrochemical Business Restructuring" hosted by financial authorities, the financial sector reached a consensus that if companies and major shareholders demonstrate sufficient self-rescue efforts and present a feasible business restructuring plan, support will be provided through a "joint agreement among creditor financial institutions."