Korea Joogang Sells Gunbuk Plant for 15 Billion Won... Gains 11.8 Billion Won from Sale
Korea Joogang, a KOSPI-listed company, has sold its Gunbuk Plant located in Haman, Gyeongnam for 15 billion won. The gain from the sale is 11.8 billion won, which amounts to 40% of the company's market capitalization.
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The counterparty to the transaction is its parent company, Korea Steel. Korea Steel is the largest shareholder, holding a 52.81% stake in Korea Joogang.
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