Taeyoung Construction Decides to Assume Debt Worth 189 Billion KRW
[Asia Economy Reporter Minji Lee] Taeyoung Construction, a subsidiary of TY Holdings, announced on the 28th that it has assumed debt amounting to 189 billion KRW. This is a conditional debt assumption related to the PF loans from Kumho Construction, Shindonga Construction, and Seoyoung Industrial Development for the Hwaseong Dongtan2 A106,107BL project, with the debt amount reaching 25.51% of the company's equity capital.
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Taeyoung Construction stated, "The debt assumption is not finalized and is a conditional debt assumption in case of the occurrence of unpaid borrowers among the original debtors. If the condition does not occur, the obligation to assume the debt will be extinguished."
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