[Featured Stock] Taeyoung Construction, 'Workout Countdown', Declines for Second Day

Taeyoung Construction has been experiencing a sharp decline for two consecutive days amid speculation that it may apply for workout.

As of 9:20 a.m. on the 28th, Taeyoung Construction is trading at 2,145 won, down 10.81% from the previous trading day. Following a 19.57% drop the day before, the stock started falling immediately after the market opened. Early in the session, it fell to 1,935 won, breaking below the 2,000 won level.

Amid forecasts that Taeyoung Construction will pursue a workout application on this day, banks and financial authorities are also on high alert. Taeyoung Construction has been facing liquidity issues due to a real estate project financing (PF) crisis.

Taeyoung Construction is making every effort to respond to the crisis, including selling major affiliates, but the market is assessing that the scale of Taeyoung Construction's PF loans has exceeded a manageable level.

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