[DISCLOSURE]
Woojeon (052270) will shut down Dongguan Woojeon, its wholly owned subsidiary in China, as part of corporate restructuring following a decline in client orders and difficulties collecting account receivables from major clients, it announced on Aug. 10.
The shutdown cost is 121 billion won (US$110.4 million), which accounts for 62.89 percent of the parent company’s total revenue in 2015.
