Hyein Subsidiary Hyein Jawon Files for Bankruptcy at Daegu District Court

[Asia Economy Reporter Lee Jung-yoon] Hyein announced on the 28th that its subsidiary Hyein Jawon, a non-metallic mineral manufacturing and sales company, has filed for bankruptcy at the Daegu District Court.

The company stated the reason for the application as "due to the impossibility of continuing operations and the accumulation of maintenance costs, it has reached excess debt and insolvency," adding, "We are filing for bankruptcy to seek appropriate liquidation for the joint interests of creditors."

Hyein's investment amount is 1,545.72 million KRW, which corresponds to 1.52% of its equity capital.

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