DL Chemical Converts KRW 150 Billion Loan to Yeochun NCC into Equity

(Seoul=Yonhap Infomax) Pil Joong Jeong = DL Co., Ltd. (KRX: 000210) announced on the 20th that its subsidiary, DL Chemical, has converted a KRW 150 billion ($110 million) loan to Yeochun NCC Co., a major South Korean petrochemical joint venture, into equity.

As a result, DL Chemical will acquire 7,736,345 new shares in Yeochun NCC. The share acquisition is scheduled for the 26th.

DL stated that the move aims to improve Yeochun NCC’s financial structure.

DL Chemical commented, “Through this debt-to-equity swap, DL Chemical expects to enhance Yeochun NCC’s financial stability. As a responsible shareholder, we will continue to pursue sound management and support Yeochun NCC’s normalization and self-sufficiency, including through raw material supply agreements and all other necessary measures.”

joongjp@yna.co.kr

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