Financially struggling Winia Electronics reveals delayed repayment plan, sells Mexico factory, etc. - South Korea

Winia Electronics, a mid-sized consumer electronics manufacturer that has filed for corporate restructuring due to deteriorating business conditions, has received dividends secured through compulsory execution against Iran's Dayani Group and the sale of a factory in Mexico.
The company announced that it plans to use the funds raised from the retirement to pay for delayed salaries. The company is owned by Iran's Entekhab Group with a total investment of 23.6 billion won (approximately 2,621.13 million yen).
Although the company holds a considerable amount of debt for goods, it is currently being deposited with the court for execution. In the dividend procedure regarding deposited funds, the company uses all dividends as voluntary retirement allowance and delayed payment.
The plan was to convert this to a repayment of his salary. However, Entekabu Group President Dayani filed a lawsuit, and the procedure for allocating the deposit was suspended.
At the same time, the company will sell its Mexican factory worth 300 billion won (approximately 33,094,200,000 yen), and will reduce the amount of delayed salary distribution.
The company plans to repay loans to other companies and group companies. Mabe, Mexico's largest home appliance manufacturer, and Swedish peer Electrolux have recently visited the factory.
The company is currently awaiting proposals regarding sale proceeds and acquisitions. If the company's rehabilitation proceedings are approved by the court, it is expected that the delayed salary distribution will become public interest debt and will be easier to repay. Our subsidiary company
Near Electronic Manufacturing's assets, which have a market value of 90 billion won (approximately 9,931.7 million yen), will also be used to pay for delayed salaries through company restructuring procedures.