2023-12-29 06:06:28
[비즈니스포스트] The Financial Supervisory Service encouraged the financial sector to support Taeyoung Construction’s partners through measures such as exemption from sanctions.
The Financial Supervisory Service announced on the 29th that it held a meeting with financial associations by industry and vice presidents in charge of credit at major banks and requested the financial sector to make efforts to support Taeyoung Construction’s partners.
▲ The Financial Supervisory Service encouraged the financial sector to support Taeyoung Construction’s partners through measures such as exemption from sanctions.
The requests include: △No disadvantages in financial transactions due to being a Taeyoung Construction partner company; △A one-year repayment deferment or interest rate reduction support for partner companies that are highly dependent on Taeyoung Construction’s sales; △Partner companies that are eligible for the bank’s rapid financial support program (fast track) Joint support from the banking sector was provided.
In particular, the Financial Supervisory Service explained that support for partner companies is exempt from inspection and sanctions regulations as it is aimed at stabilizing the financial market in accordance with the joint Taeyoung Construction workout response plan of related ministries announced the previous day.
Accordingly, financial companies were ordered to provide passive support to their partners without fear of sanctions.
In addition, the Financial Supervisory Service will assign professional counselors to the ‘Small and Medium Business Financial Difficulty Counseling Center’ to receive complaints related to Taeyoung Construction’s partner companies and provide guidance on financial support.
Taeyoung Construction is a mid-sized construction company ranked 16th in construction capability evaluation.
However, as the PF business was aggressively expanded, the guaranteed debt ratio became excessive, and it became difficult to extend or refinance PF loans that were nearing maturity, so on the 28th, the company applied for a workout with KDB Korea Development Bank, the main creditor bank. Reporter Kim Hwan
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