ESCONECK Writes Off 4 Billion Won Investment in Carbon-Recycling Subsidiary After 2-Year Delay

According to Chosun Biz on July 6, South Korea's Kosdaq-listed ESCONECK wrote off 4 billion won (approximately $3 million) in investment in carbon-recycling subsidiary EcoHyTech. The company had identified EcoHyTech as a new growth driver but recorded the full impairment after the subsidiary faced prolonged commercialization delays, resulting in zero revenue and ongoing losses. Financial investors subsequently recovered their principal investment ahead of schedule.
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