Dongbu chairman posts 16m shares as collateral for Dongbu Hitek

[DISCLOSURE] Dongbu Hitek (000990) announced on July 15 that Dongbu Group (012030) chairman Kim Jun-ki has put up 16 million shares, worth 13 billion won (US$11.42 million), as collateral until June 10, 2019. Creditors are 10 financial institutions including Korea Development Bank.

Kim had financed 300 billion won to improve the subsidiary’s financial stability in 2009.