Taeyoung Construction Resolves Capital Impairment... 'Unqualified' Opinion in Re-Audit of Audit Report

Taeyoung Construction announced on the 27th that it has resolved its capital erosion and received an 'unqualified' opinion through a re-audit of last year's audit report.

Through the disclosure, Taeyoung Construction explained that as of the end of the first half of this year, on a separate basis, it recorded ▲ total assets of 2,755.6 billion KRW ▲ total liabilities of 2,350.8 billion KRW ▲ total equity of 404.8 billion KRW, completely resolving the capital erosion.

Taeyoung Construction stated, "By replacing the existing provision for asset impairment with actual impairment of asset accounts, both assets and liabilities decreased simultaneously," and added, "The asset impairment provisions at 60 sites have decreased compared to the end of last year."

In an additional disclosure, it announced that the audit opinion, which was previously a 'disclaimer of opinion,' has been corrected to 'unqualified' following the re-audit.

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