A letter from the founder of Taeyoung Group

(1)An appeal to the creditors
(2)Hello, everyone.
(3)I’m sorry to send you a greeting for the year of Gapjin here
(4)I’d like to bow down to each person who took a difficult step
(5)I wish you all a happy new year
(6)With Taeyoung Construction at a time of hope and embracing in the new year
(7)I’ve caused you a lot of worries and concerns
(8)I’m so sorry and sad that I can’t describe it in words
(9)I’m sorry again
(10)During the New Year’s celebration last year, which celebrated its 50th anniversary
(11)I remember what I said
(12)”Fifty-year-old companies are rare.”
(13)It’s not just one or two companies that went out of business
(14)The financial market is unstable, adding to the difficultiesAt times like this, the important thing is the principle. Let’s stick to the principle even if it’s hard

(1)Unfortunately, my concerns have become a reality
(2)Taeyoung, who has been walking on a thorny path due to a liquidity crisis all year
(3)Eventually, the surplus was on the verge of bankruptcy
(4)I’m in a state of disrepair, let alone the honor of the 50th anniversary of my foundation
(5)I can’t wait and see. I’m back on the management front
(6)”What are you doing over 90?” “Isn’t it old age?”
(7)I know there’s a lot of worry and blame
(8)But if I die like this
(9)I thought I wouldn’t be able to close my eyes, so I left
(10)If Taeyoung falls apart like this, it will cause great damage to our suppliers
(11)You can’t avoid losing your hair
(12)The damage will be done to the creditors as well
(13)It could spark a national economic crisis
(14)How can we just wait and see!
(15)So I tried to prevent Taeyoung from going bankrupt
(16)We’ve found a way to save the company somehow
(17)After trying my best, he applied for a workout
(18)I was able to take the first step toward corporate rehabilitation

(1)This is just the beginning
(2)Without the approval of the major delegation here
(3)I know better than anyone that it’s hard to revive Taeyoung
(4)I’m shameless, but I sincerely ask for your help
(5)I’ll try to minimize the damage
(6)So that the people who have been with Taeyoung don’t get pushed to the edge of the cliff
(7)Please help me find a way to live together
(8)I didn’t have anything 51 years ago
(9)I was able to make Taeyoung come this far with my bare hands
(10)It was possible because of you and the financial institutions that gave me strong support
(11)If you believe in this crisis and help us
(12)I’m confident that I’ll be able to overcome it with all my might
(13)As you all know, construction and real estate have always had ups and downs
(14)Our employment staff
(15)In the meantime, Taeyoung has been doing PF business for the past few years
(16)It’s been a good thing, and it’s proven its potential I have it.
(17)Too confident in this possibility, and too negligent in self-care, it’s harsh
(18)It’s brought about a painful bankruptcy crisis
(19)It’s my management’s fault
(20)It’s all because I’m not good enough

(1)I’m not asking you to support all of our businesses unconditionally
(2)I’ll follow the procedures and save the place to save
(3)Please help me keep my business going
(4)Taeyoung Construction’s current order balance is over 12 trillion won
(5)It is expected that annual 年 of more than 3 trillion won will be possible over the next three years
(6)The operating profit ratio is also 4, which is better than the average of the top companies in the same industry
(7)Some recent media reports said that the amount of PF is 9 trillion won
(8)The actual contingent debt in question is about 2.5 trillion won
(9)In short, Taeyoung E&C is a potential company
(10)I’m going to get my business done
(11)All of our executives and employees who can properly repay their debts will be people. Trend
(12)I have a belief that I’ve protected Taeyoung like my life for 50 yearsIndustrial treasure and Hongik people
(13)I wanted to live well and contribute to the country and the people, not just making money by doing a company, but also those who invested in Taeyoung’s family and business partners’ families

(1)I want to keep that belief until the end
(2)Giving up on Taeyoung like this
(3)It won’t just end with my own failure
(4)Including the suppliers and subcontractors who have created hope together through Taeyoung
(5)It’s about putting the creditors into pain and suffering
(6)I’m very afraid that it will cause irreversible fatalities to the country’s economy
(7)Please, me and Taeyoung
(8)To our partners, institutions and creditors who have invested
(9)And don’t commit a big crime against the country and its people
(10)With the belief of Hongik, the industrial treasure, until the end
(11)Please help me fulfill my social responsibilities as an entrepreneur
(12)Please respectfully and earnestly
(13)We ask for your active help and cooperation
(14)Thank you.
(15)never give up
(16)From Yoon Se-young, founder of Taeyoung Group