Kiwoom Securities Recovers 61 Billion KRW in Uncollected Payments from Yeongpoong Paper... 433.3 Billion KRW Remaining
Kiwoom Securities announced on the 6th that it recovered 61 billion KRW through forced liquidation out of the 494.3 billion KRW unpaid balance from Yeongpung Paper.
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Through a voluntary disclosure on the same day, Kiwoom Securities stated, "After the resumption of trading of Yeongpung Paper, all quantities subject to forced liquidation were executed, recovering part of the unpaid balance," and added, "The current unpaid balance is approximately 433.3 billion KRW." They also said, "We will make every effort to recover the unpaid balance through negotiations with customers and legal actions," and added, "The final amount of unpaid claims may decrease depending on customer repayments, and the loss will be reflected in the performance for the upcoming fourth quarter."
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