JTBC, even its corporate card access has been cut off amid bankruptcy filing... "Costs to be processed later"

*This content was translated by AI.

JTBC has completely suspended the use of its corporate card.

According to industry sources on the 15th, JTBC notified all employees via email on that day to suspend corporate card usage.

According to the email, JTBC stated, "As of this morning, Samsung Card and Hyundai Card have suspended JTBC's corporate card usage."

It further explained that until separate countermeasures are in place, employees should use personal cards and submit supporting documents to settle the costs. It also added that in addition to Samsung Card and Hyundai Card, the use of all corporate cards, including Hana Card and Shinhan Card, will also be suspended.

JTBC filed for bankruptcy proceedings with the court just two days after declaring a default. The filing was made by Contentree Jungang, a subsidiary of the Jungang Group, and its subsidiary Megabox Jungang.

According to the Financial Supervisory Service's electronic disclosure system, Contentree Jungang filed for the commencement of bankruptcy proceedings, provisional disposition, and a comprehensive prohibition order with the Seoul Bankruptcy Court on the 14th. Megabox Jungang, a major subsidiary of Contentree Jungang, also filed for the commencement of bankruptcy proceedings on the same day.

Previously, on the 12th, JTBC declared a default after failing to repay a total of 20.6 billion won in securitized loans upon maturity. Following this, domestic credit rating agencies immediately downgraded JTBC's credit rating right after the default.

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*This content was translated by AI.