Dynamic Design sells subsidiary land and buildings for 3.3 billion KRW
[Asia Economy Reporter Minwoo Lee] Dynamic Design announced on the 9th that it has decided to dispose of the factory and buildings (including machinery and equipment) located at Shiangzha Industrial Park, Jinnan District, Tianjin, China, owned by its subsidiary Sehan (Tianjin) Mogu Co., Ltd., to Tianjin Yuhua Insulation Materials Co., Ltd. (天津玉華絶緣材料有限公司) for 3.3 billion KRW.
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The company explained, "The decision to dispose was made to repay the loan from the Export-Import Bank of Korea for the non-operating corporation (Tianjin Sehan) in order to improve the consolidated financial structure," adding, "It is also expected to reduce taxes, interest, and other non-operating expenses related to the real estate held by Tianjin Sehan."
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