Korea Zinc Raises 540 Billion, Including Sale Of Hanwha's Stake... "Repayment Of Borrowings"

It will raise 540 billion won in funds to improve its financial soundness by selling its stake in Hanwha Co., Ltd., which was held by Korea Zinc, which is in a management dispute, and receiving the money it lent to its subsidiaries early.

Hanwha Energy held a board meeting today (6th) and decided to acquire all 7.25% of Hanwha Corporation's stake in Korea Zinc for KRW 152 billion.

However, Hanwha decided not to sell the shares of Korea Zinc, which it exchanged for a strategic partnership in 2022.

In addition, Korea Zinc said it would receive early repayment of the 390 billion won it had lent to its Australian subsidiary Ark Energy McIntyre within this month.

Korea Zinc plans to use 542 billion won of funds, which will be secured through the sale of Hanwha's stake and repayment of loans, to repay borrowings incurred during the tender offer process of treasury stocks.