[Alpha Biz=(Chicago) Reporter Kim Jisun] Taeyoung Construction has again said that the rumors of financial difficulties circulating in the market are "groundless."

Stock prices plunged more than 6% on the same day as rumors circulated that Taeyoung Construction's legal team was looking into applying for a workout.

"Overall, 4.5 trillion won in state-guaranteed social overhead capital (SOC) and more than 75 percent of the sale have been completed, and the remaining PF is around 2.5 trillion won, excluding 2.5 trillion won, which is considered stable by the financial sector," a Taeyoung E&C official said.

This is the same as the PF scale previously announced by Taeyoung Construction. "The rumors seem to have spread when Lee Bok-hyun, head of the Financial Supervisory Service, said at a meeting yesterday that 'it is inevitable to clean up the poor real estate PF business,'" the official explained.

 

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