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  • Woojeon to shut down Chinese subsidiary for corporate restructuring
    Woojeon to shut down Chinese subsidiary for corporate restructuring
    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.
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Woojeon to shut down Chinese subsidiary for corporate restructuring

Aug. 10, 2016 - 16:28 By 정민경
[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.
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