[크레버스 줌인]③ '주담대 롤오버' 부담…리스크 관리 주목

The major shareholder's substantial stock-backed loans create a complex relationship between dividend policy and share price stability that extends beyond typical shareholder returns. Continuous loan refinancing and potential additional obligations if share prices decline mean that management's buyback programs and dividend policies serve dual purposes of shareholder returns and collateral protection, highlighting potential governance risks that warrant investor scrutiny.