[Featured Stock] Taeyoung Construction Faces Over 6% Plunge Early After 3-Month Business Suspension
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[Asia Economy Reporter Myunghwan Lee] Taeyoung Construction has been on a downward trend since the beginning of trading on the 28th following a three-month business suspension.
As of 10:03 a.m. on the same day, Taeyoung Construction was trading at 10,200 KRW, down 6.42% (700 KRW) compared to the previous trading day.
This is interpreted as the aftermath of Taeyoung Construction receiving a three-month business suspension from Gyeonggi Province. Taeyoung Construction announced on the 25th that it had been subjected to a three-month business suspension for its civil engineering and construction business. The suspension period is from April 25 to July 24.
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Previously, in 2017, two subcontractor workers suffocated while working at a construction site in Gimpo, Gyeonggi Province. In 2020, Taeyoung Construction was given a three-month business suspension by Gyeonggi Province due to a "serious accident under the Industrial Safety and Health Act." The company filed a lawsuit to cancel the suspension order but lost in the first trial.
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