LS Subsidiary LS Mtron Reports Derivative Losses Amounting to 53.7 Billion Won

[Asia Economy Reporter Jang Hyowon] LS announced on the 14th that its subsidiary LS Mtron incurred a loss of 53,674,830,000 KRW from currency forward and stock option transactions, excluding previously reported amounts. This represents 12.07% of its equity capital.

Specifically, as of the cumulative third quarter this year, the loss from currency forward derivative transactions was 6.7 billion KRW, with an evaluation loss of 45.2 billion KRW. An evaluation loss of 1.7 billion KRW also occurred from stock option derivatives.

The company explained that the losses were due to "derivative losses caused by the sharp appreciation of the US dollar."

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