[Featured Stock] HDC Hyundai Development Company Shares Plunge Over 10% Due to Gwangju Apartment Collapse Incident
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[Asia Economy Reporter Ji Yeon-jin] The stock price of HDC Hyundai Development Company, the contractor, is plummeting on the 12th following an accident where the exterior wall of an apartment collapsed at a mixed-use apartment construction site in Gwangju.
As of 10 a.m. on the same day, HDC Hyundai Development Company was trading at 22,300 KRW on the KOSPI market, down 13.20% from the previous day.
The sharp drop in stock price occurred after the exterior wall collapsed at a high-rise mixed-use apartment construction site in Hwajeong-dong, Seo-gu, Gwangju the previous day, and the contractor was confirmed to be HDC Hyundai Development Company.
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Gwangju City issued a work suspension order to HDC Hyundai Development Company, ordering the halt of all construction projects underway in the Gwangju area.
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