Decision on Provision of Debt Guarantee for Others
1. Debtor Hyosung Chemical Fiber (Jiaxing) Co., Ltd.
- Relationship to company Affiliated company
2. Creditor Korea Development Bank
3. Amount of debt (borrowing) (KRW) 30,140,000,000
4. Details of debt guarantee Amount of debt guaranteed (KRW) 30,140,000,000
Equity capital (KRW) 381,110,809,280
Ratio to equity capital (%) 7.91
Classified as a large-sized corporation? Yes
Guarantee period Start date 2022-03-10
End date 2023-03-10
5. Total balance of debt guarantee (KRW) 1,024,536,132,600
6. Date of board resolution (decision date) 2022-03-02
- Attendance of outside directors Present (No.) -
Absent (No.) -
- Attendance of auditors (members of Audit Committee who are not outside directors) -
7. Other matters to be factored into investment decisions
- The debt guarantee above is a result of the extension of maturity of the existing
borrowings of Hyosung Chemical Fiber (Jiaxing) Co., Ltd., and the lender has
changed from Korea Development/Shanghai to Korea Development/Headquarters.

-"3. Debt Amount" is the amount obtained by converting USD 25,000,000 by applying
the standard exchange rate as of March 2 (1 USD = 1,205.60 KRW).

-"4. Amount of debt guarantee" is the amount converted by applying USD 25,000,000
at the standard exchange rate as of March 2, and the scope of debt guarantee
includes USD 25,000,000 along with the interest, overdue interest, fees and all
other expenses thereto. In addition, equity capital is based on the consolidated
audit report as of the end of December 2020.

-"5. Total balance of debt guarantee" is the limit of guarantee including the
unused balance, and was converted by applying the standard exchange rate as of
March 2.

-"6. Date of board resolution (decision date)" is the date of decision of the
Management Committee.

- The current year in the "Condensed Financial Statements of Debtor" below is based
on 2020; the previous year is based on 2019; and two fiscal years prior is based
on 2018 (however, the sales and net income are the performance results from June
1, 2018, which is the date of division, through December 31, 2018 based on the
consolidated audit report).

- The period of debt guarantee for the overseas entities below has been omitted
since there are multiple debt guarantees made within the same entity
(each guarantee period is different).
※ Related disclosure -
【Condensed Financial Statements of Debtor】(in KRW mn)
Category Total assets Total liabilities Total shareholders' equity Capital stock Sales Net income
Current fiscal year 283,467 119,595 163,872 148,421 271,553 7,150
Previous fiscal year 327,847 166,820 161,027 148,421 337,783 453
Two fiscal years prior 347,259 185,745 161,514 134,611 205,339 -817
[Balance of Debt Guarantee per Debtor]
Debtor Relationship Balance of debt guarantee (KRW) Period of debt guarantee Remarks
Hyosung Chemical Fiber (Jiaxing)
Co., Ltd.		 Affiliated company 60,280,000,000 - -
Hyosung
Steelcord
(Qingdao) Co.,
Ltd.		 Affiliated company 121,741,294,000 - -
Hyosung Vietnam
Co., Ltd.		 Affiliated company 296,215,920,000 - -
Hyosung Quang
Nam Co., Ltd.		 Affiliated company 200,129,600,000 - -
GST Global GmbH Affiliated company 175,264,095,600 - -
GST Automotive
Safety(Changshu)
Co., Ltd.		 Affiliated company 43,642,720,000 - -
Global Safety
Textiles LLC		 Affiliated company 12,056,000,000 - -
GST Safety
Textiles RO S.R.L.		 Affiliated company 86,907,816,000 - -
Hyosung
Luxembourg S.A.		 Affiliated company 28,298,687,000 - -
※ Relevant statutes Financial Investment Services and Capital Markets Act

Attachments

  • Original Link
  • Original Document
  • Permalink

Disclaimer

Hyosung Advanced Materials Corporation published this content on 08 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 March 2022 08:10:01 UTC.