[Featured Stock] Taeyoung Construction Plummets on Workout Filing Possibility

Taeyoung Construction is plummeting amid reports that it may apply for a workout. Taeyoung Construction stated in a disclosure, "We are reviewing various methods to normalize management."

As of 10:34 AM, Taeyoung Construction is trading at 2,725 KRW, down 8.86% (265 KRW) from the previous day.

According to media reports on the day, Taeyoung Construction, facing a real estate project financing (PF) crisis, is considering applying for a workout (corporate improvement process). It is known that the so-called 'F(Finance)4' members?Choi Sang-mok, Deputy Prime Minister and Minister of Economy and Finance nominee; Kim Ju-hyun, Chairman of the Financial Services Commission; Lee Bok-hyun, Governor of the Financial Supervisory Service; and Lee Chang-yong, Governor of the Bank of Korea?discussed real estate PF issues and the possibility of Taeyoung Construction's workout on the evening of the previous day.

The 28th, when a large number of Taeyoung Construction's financial sector borrowings mature, is expected to be a turning point for the workout application. The possibility of a workout is interpreted as causing investment sentiment to shrink and selling pressure to emerge.

Taeyoung Construction stated in a disclosure, "We are currently reviewing various plans to normalize management, but nothing has been specifically confirmed so far."