Korea Technology "No Basis for Rumors of Majority Shareholder Forced Sale"
[Asia Economy Reporter Kum Boryeong] Korea Technology announced on the 16th that rumors about forced sale due to the largest shareholder's stock collateral loan are completely unfounded.
The largest shareholders of Korea Technology are Korea Innovation, holding 10.48% of shares, and one other individual.
A representative of Korea Technology stated, "We have confirmed through various channels with the largest shareholders. There is no concern about forced sale, and there will be no issues in the future," adding, "The recent sharp decline in stock price appears to be due to the global stock market downturn."
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Korea Technology will soon launch its 5th generation (5G) IT business, which is being promoted in cooperation with a Chinese company. This new business will be conducted together with its affiliate, Korea Corporation.
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