Taewon Mulsan, Suspension of Operations in Gypsum Business Division Decided

[Asia Economy Reporter Minji Lee] Taewon Trading announced on the 29th that it has decided to suspend operations in its gypsum business division due to the cessation of gypsum product production. The suspension amount is 4,968.91 million KRW, accounting for 30.41% of last year's sales. The suspension date is December 31.

The company stated, "This is due to the lack of business viability in the gypsum business division caused by changes in the business environment," and added, "It is intended to focus on the remaining business divisions, strengthen business capabilities to increase profitability, and discover new businesses for future growth."

Furthermore, the company said, "Although a short-term decrease in sales is inevitable, financial structure improvement is expected in the mid to long term."