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[Alpha Biz=(Chicago) Reporter Paul Lee] Other construction companies are also seeing their stock prices fall as mid-sized construction firm Taeyoung Engineering & Construction applied for a workout due to liquidity problems related to real estate project financing (PF).
As of 10:10 a.m. on the 28th, the construction industry index of the securities market is 70.59, down 0.74 points (1.05%) from the previous day.
Ilsung Construction is down 4.42%, Sambu Construction is down 3.01% and Dongbu Construction is down 2.35%.
In addition, Hwaseong Industrial (-2.29%), Hyundai Engineering & Construction (-2.43%), HJ Heavy Industries (-2.20%), Kumho Engineering & Construction (-1.71%), and Shinsegae Engineering & Construction (-1.78%) are also on the decline.
Taeyoung Construction expanded its share price to 19.33% in early trading It is rebounding sharply 16.63% on the back of an upward trend.
Construction stocks have remained weak despite a sharp rebound in the stock market between November and December due to poor real estate PF issues at Taeyoung Engineering & Construction and some other construction companies.
The construction sector index rebounded from its low point (67.47) at the end of October Since the end of November (76.21), the upward trend has declined and continued to decline.
Concerns are growing in the construction industry that the maturity of PF-related contingent liabilities and large-scale corporate bonds could increase financial burdens amid the uncertain recovery of the real estate market.
Corporate bonds of major construction companies due in the first half of next year are estimated at 2.37 trillion won.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
