Daewoo Shipbuilding & Marine Engineering Construction "All-Out Effort for 'Business Normalization' Amid Union's Corporate Rehabilitation Filing"

[Asia Economy Reporter Jang Hyowon] Daewoo Shipbuilding & Marine Engineering Construction announced on the 23rd an apology to its employees and expressed its intention to resolve the issue promptly regarding the rehabilitation procedure application submitted by the labor union to the Seoul Bankruptcy Court on the 22nd.

Regarding the labor union of Daewoo Shipbuilding & Marine Engineering Construction applying for the commencement of rehabilitation proceedings as a 'wage creditor,' a company official stated, "Due to the sharp rise in raw material prices and interest rate hikes, the construction industry has rapidly contracted amid the economic downturn, causing difficulties in securing funds," adding, "We are only sorry for the delayed salary payments."

He continued, "Unlike other construction companies, our company has no history of issuing PF guarantees, corporate bonds, or checks, so there is no risk of bankruptcy, and only unpaid amounts remain due to the downturn in the construction market," adding, "We will promptly resolve the issue by exploring options such as asset sales and external financing."

Regarding suspicions of fund outflow, the company drew a clear line, stating, "There has been no illegal outflow of funds."

A company official said, "We will do our utmost to prevent the corporate rehabilitation process from proceeding," and added, "We will overcome difficulties through coexistence and harmony with all employees, including the labor union."

This content was produced with the assistance of AI translation services.