GS Construction and 17 Other Companies Sued for 132.7 Billion KRW in Damages by Incheon Metropolitan City
[Asia Economy Reporter Park Jun-yi] GS Engineering & Construction announced on the 31st that the Incheon Metropolitan City has filed a claim for damages amounting to 132,714,040,000 KRW against GS Engineering & Construction and 17 other companies at the Incheon District Court, along with a request to change the cause of the claim. The claimed amount represents 3.20% of the company's equity capital.
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GS Engineering & Construction stated, "This lawsuit is a modification of the claim purpose in a case filed by the client in 2014, alleging bid-rigging in the turnkey construction of Incheon Subway Line 2, for which the trial has already concluded." They added, "We plan to respond through legal representatives following the legal procedures."
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