Taeyoung Construction Suspended from Operations for 3 Months Due to Major Accident
[Asia Economy Reporter Lee Jung-yoon] Taeyoung Construction announced on the 28th that it has received an administrative suspension of business operations for its civil engineering and construction projects due to a serious accident under the Industrial Safety and Health Act.
The suspension applies to 1,282,520,290,000 KRW (46.61%) of last year's total sales of 2,751,710,630,000 KRW. The suspension period is from April 24 to July 24.
Previously, in 2017, two subcontractor workers suffocated while working at a construction site in Gimpo, Gyeonggi Province. In 2020, Taeyoung Construction was penalized with 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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The company stated, "Construction projects for which contracts were signed or permits and approvals were obtained according to relevant laws before the administrative suspension was imposed may continue construction."
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