[Breaking] Yoon Se-young, Chairman of Taeyoung, "I will pledge TY Holdings and SBS stocks as collateral"

Yoon Se-young, the founding chairman of Taeyoung Group, stated on the 9th, "If the existing self-rescue plan is insufficient, we will also use TY Holdings and SBS shares as collateral," expressing his determination to normalize Taeyoung Construction.

On the same day, Chairman Yoon held a press conference at the Taeyoung Construction headquarters in Yeouido, Seoul, saying, "TY Holdings, major shareholder Yoon Seok-min (Taeyoung Group) chairman, and I, the founder, have given assurances to the creditors," and added, "We also plan to secure and inject additional funds through the sale of other affiliates or providing collateral beyond what is included in the existing self-rescue plan."

He further stated, "We will show this through action, not words. We will definitely normalize Taeyoung Construction to minimize damage to creditors, partner companies, and buyers, and to prevent shocks to the national economy."

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