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Troubled mid-sized builder Taeyoung Engineering & Construction (E&C) agreed to lay off 22 senior executives and cut salaries by up to 35 percent for the remaining ones, as part of self-rescue efforts to facilitate a corporate debt workout program, according to the firm’s main creditor, Friday. ....
Creditors of Taeyoung Engineering & Construction have agreed to provide up to 400 billion won in additional funds to the South Korean builder, primary creditor Korea Development Bank , said on. ....
(Bloomberg) Creditors agreed to provide Taeyoung Engineering & Construction Co. as much as 400 billion won ($300.5 million) in additional funds, as the South Korean builder seeks to gain a handle on its finances. Most Read from BloombergNvidia Rises Most in About Nine Months as AI Drives SalesT-Bills Without Tax Bills? This Fund Says It Cracked the CodeAT&T Outage Triggered by Company Work on Network ExpansionUS Lands on Moon in Historic Feat for Private SpacecraftNvidia Tops Meta Record With ....
Taeyoung Group founder and Honorary Chairman Yoon Se-young urged its employees to make all-out efforts to bring its debt-ridden builder Taeyoung Engineering & Construction back on track, after creditors confirmed Friday their approval for a debt restructuring program. "The debt workout has begun, backed by the strong support of creditors. This is because (the creditors) saw a high possibility of Taeyoung E&a. ....