Samyung E&C Faces Rehabilitation and Delisting Crisis

Rehabilitation procedure commenced on Jan 26, 2026, by Busan Bankruptcy Court; joint administrators appointed; rehabilitation plan due by June 10, 2026
Net loss of 296M KRW this quarter (vs. net profit of 686M KRW same period last year); operating cash flow -483M KRW
Total financial liabilities: short-term borrowings 6.26B KRW, convertible bonds 4B KRW; cash and equivalents only 593M KRW
Criminal complaints filed against former CEO and others for embezzlement/breach of trust (total 22.67B KRW); lawsuits ongoing
KOSDAQ market delisting review resulted in 'delisting' decision; improvement plan submitted; re-review by Corporate Review Committee due by June 4, 2026
Extraordinary general meeting (Mar 13) convened by minority shareholders passed resolutions to replace directors; company disputes validity and filed suit to cancel resolutions (case 2026-31914)
Designated as unfaithful disclosure entity twice; total fines of 66M KRW imposed

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