Shares related to DL Group fell sharply in early trading on the 11th. Amid a fatal accident at a construction site, the crisis surrounding Yeochun NCC's bankruptcy has compounded, quickly dampening investor sentiment.
As of 9:41 a.m. on that day, DL shares were trading at 40,000 won, down 13.04% (6,000 won) compared to the previous trading day in the KOSPI market.
DL E&C shares are also experiencing a sharp decline of over 11% in the KOSPI market. The preferred shares, DL E&C preferred and DL preferred, are down approximately 6% and 9%, respectively.
This is due to DL Group facing a series of adverse events recently. On the 8th, a worker in his 50s fell and died at the DL Construction apartment site in Sin-gok-dong, Uijeongbu City. In response, President Lee Jae-myung instructed that all industrial accident fatalities be reported to the presidency as quickly as possible. Earlier, President Lee had mentioned the possibility of revoking the construction license of POSCO E&C, which had witnessed a string of safety accidents.
Furthermore, Yeochun NCC, a joint venture between Hanwha and DL, is facing bankruptcy due to years of accumulated losses. Yeochun NCC is jointly owned by Hanwha Solutions and DL Chemical, each holding 50% equity. It is reported that Yeochun NCC is short approximately 310 billion won by the end of this month.