Korea Corporation, 154 Minority Shareholders File for Rehabilitation Proceedings Initiation
[Asia Economy Reporter Ji Yeon-jin] Korea Corporation announced on the 14th that 154 minority shareholders have filed for the commencement of rehabilitation proceedings at the Seoul Bankruptcy Court due to concerns of bankruptcy.
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The company stated, "The application for rehabilitation proceedings was made not by our board of directors, but by 154 of our minority shareholders including Choi Min-su," and added, "We plan to actively respond through a law firm to the Seoul Bankruptcy Court regarding the legitimacy of the applicants' qualifications and the appropriateness of the reasons for the rehabilitation application."
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