DYD ceases construction business and separates from Sambutogeon... "No impact from rehabilitation application"

DYD announced on the 25th that it has completely wound down its construction business, and since no accounting special relationship is established with its subsidiary Sambutogeon, there is no impact from the corporate rehabilitation.

DYD was the major shareholder and management entity of Sambutogeon until last year. After selling its shares, the company explained that all executives related to Sambutogeon resigned at the extraordinary general meeting held on the 31st of last month, completely resolving the special relationship.

DYD's sales in 2024 reached 37.4 billion KRW, surpassing the annual sales of 28.5 billion KRW in 2023. However, due to investment losses related to Sambutogeon, the company recorded a net loss unrelated to its business and operations.

DYD cited the performance of its own color cosmetics brand, ‘Lilybyred’, as a major factor for the sales increase last year. Lilybyred ranked first in sales in the Olive Young category as of May last year. It continues to enjoy steady popularity both domestically and internationally, being sold in 2,200 stores in Japan.

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