[Alpha Biz=(Chicago) Reporter Paul Lee] Dongguk Holdings, the holding company of Dongkuk Steel Group, announced on the 21st that it has completed the transition to a holding company system after the Fair Trade Commission's review.

Previously, Dongkuk Steel Group decided to approve the personnel division plan and convene an extraordinary shareholders' meeting at its board meeting in December last year, finalized all bills at an extraordinary shareholders' meeting in May, and split into three companies: Dongguk Holdings, Dongkuk Steel Mill, and Dongguk CM on June 1.

Afterwards, we submitted a conversion report to the Fair Trade Commission after meeting the holding company's requirements through a paid-in capital increase in public purchase. A holding system conversion company shall be obliged to report the establishment and conversion of a holding company to the Fair Trade Commission in accordance with the relevant laws.

With the final repair by the Fair Trade Commission, Dongkuk Steel Group has been converted from the existing Dongguk Holdings-Dongkuk Steel-Dongguk CM parallel structure to a series structure under Dongguk Holdings.

Dongguk Holdings, a holding company, will focus on finding future growth engines and adjusting business portfolios as the group's strategic control tower, while business companies Dongkuk Steel and Dongguk CM will strengthen their business competitiveness by promoting independent growth strategies centered on professional managers.

 

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