Most Popular
-
1
Actor Jung Woo-sung admits to being father of model Moon Ga-bi’s child
-
2
Wealthy parents ditch Korean passports to get kids into international school
-
3
Man convicted after binge eating to avoid military service
-
4
First snow to fall in Seoul on Wednesday
-
5
Final push to forge UN treaty on plastic pollution set to begin in Busan
-
6
Korea to hold own memorial for forced labor victims, boycotting Japan’s
-
7
Nvidia CEO signals Samsung’s imminent shipment of AI chips
-
8
Industry experts predicts tough choices as NewJeans' ultimatum nears
-
9
Job creation lowest on record among under-30s
-
10
NK troops disguised as 'indigenous' people in Far East for combat against Ukraine: report
[Market Now] Sajo Haepyo guarantees affiliate loans
By Park Hyung-kiPublished : April 12, 2016 - 15:51
Sajo Haepyo, a listed soybean company of Sajo Group, said Tuesday that it will guarantee loans worth 5.7 billion won ($5 million) to its affiliate Sajo Bio Feed borrowed from NH Bank.
Sajo Haepyo has set aside some 6.9 billion won as guarantee fund in case Sajo Bio defaults on its loans, the company said in a regulatory filing.
Sajo Haepyo has a 25 percent stake in Sajo Bio Feed, which produces livestock feeds. Sajo Industries, a seafood giant, is the biggest shareholder with a 20.9 percent in Sajo Haepyo. CJ Olive Networks, part of CJ Group, has a 12.6 percent stake.
Last month, Sajo Haepyo allocated 40 billion won to guarantee loans of DongA One, a flour company Sajo Group acquired early this year.
Sajo Group is widely known for its canned tuna fish brand in Korea.
By Park Hyong-ki (hkp@heraldcorp.com)
Sajo Haepyo has set aside some 6.9 billion won as guarantee fund in case Sajo Bio defaults on its loans, the company said in a regulatory filing.
Sajo Haepyo has a 25 percent stake in Sajo Bio Feed, which produces livestock feeds. Sajo Industries, a seafood giant, is the biggest shareholder with a 20.9 percent in Sajo Haepyo. CJ Olive Networks, part of CJ Group, has a 12.6 percent stake.
Last month, Sajo Haepyo allocated 40 billion won to guarantee loans of DongA One, a flour company Sajo Group acquired early this year.
Sajo Group is widely known for its canned tuna fish brand in Korea.
By Park Hyong-ki (hkp@heraldcorp.com)
