Taeyoung Construction Maintains Listing Decision... Stock Trading Resumes from the 31st

On the 11th, the fate of Taeyoung Construction, which applied for a workout (corporate restructuring) after failing to repay real estate project financing (PF) loans worth around 9 trillion won, is being decided, creating tension at Taeyoung Construction in Yeongdeungpo-gu, Seoul. Photo by Jo Yongjun jun21@

Trading of Taeyoung Construction's shares, which had been suspended due to capital erosion, will resume after more than seven months.

On the 30th, the Korea Exchange announced that the Listing Committee of the KOSPI Market decided to maintain the listing of Taeyoung Construction. Accordingly, the suspension of trading of Taeyoung Construction's shares will be lifted on the 31st.

Previously, on March 13, when the workout (financial improvement process) was underway, Taeyoung Construction entered a state of capital erosion, leading to the suspension of its stock trading on the KOSPI Market.

According to the disclosure regulations of the KOSPI Market, stocks in a state of capital erosion are immediately suspended from trading, and whether they are subject to delisting is determined based on the final audit opinion of an external auditor on the financial statements.

If notified of delisting reasons, the company can file an objection with the exchange. If accepted, a maximum one-year improvement period is granted. Afterwards, the exchange reviews the implementation of the improvement plan to decide whether to maintain the listing or proceed with delisting. Subsequently, Taeyoung Construction signed a Memorandum of Understanding (MOU) with the Korea Development Bank for a corporate improvement plan and began full-scale efforts to normalize the company.