Daeyang Paper Mfg.’s October 15 filing announces an acquisition decision for machinery, not the start of PM-9 production. Its material-events report on Korea’s DART disclosure system identifies the assets as “new PM-9 equipment, etc.” and the purpose as investment in equipment to restart the mill. The company’s stated aims of improving competitiveness and market share are expected effects of the investment, not measured operating or sales results.
Keep machinery and building investment apart
The disclosed machinery acquisition amount is KRW 190.4 billion (KRW 190,400,000,000). Approximately KRW 39.55 billion of investment in originally acquired assets such as buildings is excluded from that figure. It should not be described as part of an already signed machinery supply price; nor should the machinery amount be presented as a final all-in project cost. Daeyang says the acquisition amount may change as the investment progresses.
The filing states that the amount equals 97.45% of total assets of KRW 195,379,571,809. That asset figure is drawn from the company’s year-end 2025 K-IFRS financial statements. The ratio is not the percentage of a current budget already spent. Digital Today’s October 15 disclosure article repeats the amounts and the building-cost exclusion; it is a summary of the filing, not an independent verification that the mill has restarted.
An installation target is not a production date
The filing lists October 15, 2026 as the contract and board-decision date, and March 31, 2029 as the acquisition reference date. Daeyang expressly calls the latter a planned installation-completion date. It is not a confirmed commissioning, first-shipment or commercial production date.
The counterparties are listed as “Valmet, etc.”, with payment in cash. This does not establish that the whole disclosed amount has been contracted with Valmet alone. Daeyang says the dates and counterparties for remaining contracts have yet to be decided; payment timing and terms depend on contracts with counterparties. It expects to use internal funds and external financing. Further records will be needed for remaining contracts, equipment delivery and installation, trials, and grade-specific customer qualification.
For now, the filing establishes the scope and amount of a machinery acquisition decision and its intended installation milestone. PM-9’s actual capacity, the grades it will ship, the timing of mill operations and any sales effect require separate operating evidence.
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