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Related Party Transactions
12 Months Ended
Dec. 31, 2018
Related Party Transactions [Abstract]  
Related Party Transactions

NOTE 13 – RELATED PARTY TRANSACTIONS

 

As of December 31, 2018 and 2017, the Company loaned nil and ₩290,812 thousand, respectively to the Company’s officers and employees. The loans receivable bear an interest of 4.6% and are redeemable on demand.

 

The Company borrowed ₩53,000 thousand from Min Sik Park, Senior Vice President, at December 31, 2015 with the maturity of December 30, 2018. The borrowings bear an interest at 9.50 % per annum. At December 31, 2018 and 2017, the balance for the borrowings was nil and ₩18,895 thousand, respectively.

 

The Company borrowed ₩237,740 thousand from Ung Gyu Kim, President, at February 26, 2018 with the maturity of February 25, 2019. The borrowings bear an interest at 4.60 % per annum. At December 31, 2018 and 2017, the balance for the borrowings was ₩45,980 thousand and nil, respectively.