Techwing Reports 15.8 Billion KRW Loss from Derivative Transactions
[Asia Economy Reporter Lee Jung-yoon] Techwing announced on the 22nd that it incurred losses from currency forward (forward exchange) contracts and futures contracts.
The cumulative loss balance amounts to 15,792.10 million KRW, which corresponds to 6.85% of the company's equity capital.
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The company stated, "Due to a sales structure focused on exports, derivative products (currency forward contracts and futures contracts) were entered into to hedge against a decline in exchange rates, but trading and valuation losses occurred due to the rise in exchange rates."
This content was produced with the assistance of AI translation services.
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