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[Alpha Biz=(Chicago) Reporter Kim Jisun] Daegu Bank and NH Nonghyup Bank, which lent a total of 44 billion won with the stocks as collateral, are also on the verge of suffering losses as it hit the lower limit for seven consecutive trading days.
Kiwoom Securities, which has become a major window for trading Youngpoong Paper, has also exceeded 400 billion won in damages due to unpaid bills.
According to the Korea Exchange on the 2nd, Youngpoong Paper fell to a price limit from the beginning of the day and was traded at 4,010 won without a single rebound. Youngpoong Paper recorded the lower limit on the 18th of last month, when it plunged more than the first time, and the seventh trading day from the 26th to the day when the authorities lifted the suspension of trading. This is the longest lower limit since the price limit was expanded to 30% in 2015. Unlike Youngpoong Paper, its parent company, Daeyang Metal (009190), rose 5.22% on the same day following the previous day's upper limit.
Youngpoong Paper began to rise shortly after it was acquired by Daeyang Metal in June last year, and this year, it has risen eight times to just before the lower limit. The prosecution arrested four suspects suspected of leading the market price manipulation of Youngpoong Paper on the 20th of last month.
As the stock price of Youngpoong Paper plunged day after day, Daegu Bank and NH Nonghyup Bank, which recently lent money on the company's shares as collateral, are also on the verge of failing to properly repay their loans. According to the Financial Supervisory Service, Daeyang Metal lent 10 billion won to NH Nonghyup Bank on May 10, leaving 1,666,667 shares (3.59%) of Youngpoong Paper. NH Nonghyup Bank suffers losses even if its stock price falls below 6,000 won, but it has already fallen to 4,010 won, losing more than 3.3 billion won in collateral value.
On September 25, Daeyang Metal also borrowed 34 billion won from Daegu Bank on three occasions with 11.125 million shares (23.93%) of Youngpoong Paper as collateral. As the value of collateral is 3,056 won per share based on the total loan, Daegu Bank will immediately enter the loss section if Youngpoong Paper falls to the price limit on the 3rd.
AlphaBIZ 김지선(stockmk2020@alphabiz.co.kr)
