Korea Joongang Daily
Korea JoongAng Daily

Taeyoung Group to sell stake in waste company Ecorbit in bid to rescue construction affiliate

Taeyoung Group is selling its entire stake in waste-to-energy company Ecorbit to aid its financially troubled construction affiliate.

2024-08-28

KDB proposes capital reduction to support Taeyoung's debt restructuring

The state-run Korea Development Bank (KDB) will likely conduct a massive capital reduction held by the builder's major shareholders to support the troubled builder's debt restructuring.

2024-04-16

Trading of debt-ridden Taeyoung E&C suspended

Trading of Taeyoung Engineering & Construction was suspended on the Kospi after it reported a negative asset balance amid its ongoing debt restructuring program.

2024-03-14

Taeyoung shares suspended as debt restructuring continues

Taeyoung Engineering & Construction's shares were suspended Wednesday due to its negative net asset balance amid debt restructuring.

2024-03-14

Silent site

A construction site of Taeyoung E&C in Jungnang District, eastern Seoul, is silent on Tuesday due to overdue wage issues surrounding the Korean builder.

2024-01-23

Taeyoung E&C creditors to begin due diligence for debt restructuring

Creditors of Taeyoung Engineering & Construction were set to begin due diligence of the troubled builder as they voted to move forward with a debt restructuring program for Taeyoung, an industry source said Sunday.

2024-01-14

Taeyoung E&C to move forward with debt workout with 96% support from creditors

Financially troubled builder Taeyoung Engineering & Construction (E&C), the 16th-largest builder in Korea, received 96.1 percent of support from creditors to move forward with a debt restructuring program.

2024-01-12

Workout win

Taeyoung Engineering & Construction (E&C) has received approval for its workout, securing more than 75 percent of creditors' support.

2024-01-11

Rates likely to be frozen for months, BOK says

The chance of any further rate increases has grown weak as the rate is already high and inflation is slowly yet continuously easing, said the Bank of Korea (BOK) as it kept the interest rate steady at 3.50 percent.

2024-01-11

BOK freezes interest rates for eighth straight meeting

The Bank of Korea (BOK) kept interest rates unchanged at 3.50 percent for the eighth straight meeting on Thursday.

2024-01-11