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[Alpha Biz=(Chicago) Reporter Kim Jisun] Dongkuk Steel Group is known to have secured a 30% stake in the business company due to the paid-in capital increase.
Dongguk CM, newly launched in the process of transitioning to a holding company, will be subject to high tariffs.
Dongkuk Steel Group is on the verge of becoming a holding company 70 years after its establishment.
The subscription rate for the paid-in capital increase conducted by Dongguk Holdings was 72%.
Most of the owner's family, including Chairman Jang Se-joo and Vice Chairman Jang Se-wook, participated.
It is known that the holding company meets the Fair Trade Act, which requires a 30% or more stake in the business company.
This paid-in capital increase was carried out in kind by converting Dongkuk Steel and Dongguk CM shares into Dongguk Holdings shares.
In the process, the newly created Dongguk CM was hit by a tariff bomb.
The U.S. Department of Commerce has raised tariffs from 1.79% to 9.5% because it is a new company.
30% of Dongguk CM's sales come from North and Central America.
The remaining procedure until the transition to a holding company is to report to the Fair Trade Commission.
AlphaBIZ 김지선(stockmk2020@alphabiz.co.kr)
