The head of Woongjin Group, a mid-size conglomerate in South Korea, has expressed his intention to contribute an unspecified amount of his personal wealth to the group’s troubled holding company in an effort to help it get back on its feet, a company official said Monday.

Yoon Seok-keum, chairman of Woongjin Group, has made the decision to help Woongjin Holdings tide over a liquidity crunch, the official said. The holding company was placed under a court receivership last year, along with its construction arm, Kukdong Engineering & Construction Co., due to financial difficulties.

“It’s unclear how much the chairman will contribute at this point,” the official of Woongjin Holdings said by telephone. He added that Yoon may sell his stake in Woongjin Foods Co. and Woongjin Chemical Co., the beverage and chemical units, to contribute to the holding company. He spoke on condition of anonymity because details have not been worked out.

In 2010, Yoon borrowed 70 billion won ($65 million) from a securities company to help normalize a troubled savings bank that he took over earlier that year.

The latest decision came three days after Woongjin’s creditors asked whether the embattled chairman was interested in using his money to save the holding company.

Woongjin Holdings, which owes about 1.8 trillion won to its creditor banks, plans to sell its stake in Woongjin Foods and Woongjin Chemical this year.

Nongshim Co., South Korea’s top instant noodle maker, has expressed interest in buying South Korea’s No. 2 maker of fruit juices, though no specific details are available. (Yonhap News)