by Hwang Yoonju
Published 27 Feb.2024 19:15(KST)
Seonwon Construction has filed for rehabilitation proceedings with the court.
According to the construction industry on the 27th, the Seoul Rehabilitation Court issued a comprehensive injunction on the 26th regarding the rehabilitation proceedings applied for by Seonwon Construction.
A comprehensive injunction freezes all assets of the party before formally starting the rehabilitation process. Without court approval, provisional seizures or debt collections are prohibited, and the company itself cannot dispose of its assets.
Seonwon Construction, headquartered in Gapyeong, Gyeonggi Province, is an affiliate of the Tongil Group and ranks 122nd in construction capability evaluation. It is currently carrying out residential facility construction projects including a regional housing association apartment complex (420 units) in Seorak-myeon, Gapyeong-gun, a multi-family housing complex (23 units) in Seongbuk-dong, Seongbuk-gu, officetels (196 units) in Yongdap-dong, Seongdong-gu, and officetels (98 units) in Haeundae, Busan.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.