- Difficulties arose in managing off-season, employee salaries and repayment of interests.
- Deficient funds were appropiated from Kim Junsu’s personal income and investment.
- Decision to sell reached as solution to prevent worst case scenario when Kim Junsu enters Military Service
- Profesional management entity to take over hotel, with Kim participating indirectly through partial acquisition of shares from sale.
2.- Salary Payments
While some delays occurred at height of management issue, all employee salary payments have been completed at present
3.- Employee Succession
Succession of existing employees were given top priority during sale negotiation
4.- Usage of Personal Account
The Hotel was Kim Junsu’s privately owned business, not a corporation.
As such the use of bank account under personal name not pose any problem whatsoever.