KCC Construction Decides on 50 Billion KRW Debt Guarantee for RBDK
[Asia Economy Reporter Yoo Byung-don] KCC Construction announced on the 23rd that Albidekay has decided to provide a debt guarantee for a debt of 50 billion KRW owed to HI Yangju Jeilcha Co., Ltd.
This amount represents 12.48% of recent sales. The guarantee period is from the 29th until May 29, 2024.
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Regarding this debt guarantee, the company explained, "This is a conditional debt guarantee under which the company will assume overlapping debt obligations (loan principal and interest, etc.) to the main lender of the borrower if the company, as the contractor participating in the construction of Rapiano Switzen Yangju Okjeong, fails to fulfill the responsibility for completion (within 32 months from the loan agreement withdrawal date)."
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