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[Alpha Biz=(Chicago) Reporter Paul Lee] Trading was suspended for 30 minutes when Taeyoung Engineering & Construction announced its application for a workout program on the 28th.
According to the Financial Supervisory Service's electronic disclosure system on the 28th, Taeyoung Construction announced that it had applied for the start of management procedures for creditor banks and others through a public announcement at 10:08 a.m. As a result, trading will be suspended until 10:38 a.m.
According to the financial sector earlier in the day, Taeyoung Engineering & Construction Co., which is set to mature its contingent debt totaling 3.6 trillion won by next year, applied for a workout earlier in the day.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
