On the 15th morning, Dawonsys shares plunged nearly 30%. It is seen as the impact of President Lee Jae-myung publicly rebuking the long delays in delivering railcars and the issue of advance payments.
At 9:59 a.m. that day, Dawonsys was trading on the KOSDAQ market at 2,665 won, down 1,115 won (29.5%) from the previous trading day. It fell to 2,650 won during the session, hitting the lower limit.
It is seen as the impact of the president sharply rebuking Dawonsys over the delayed delivery of rail vehicles.
At a Ministry of Land, Infrastructure and Transport briefing on the 12th of this month, the president pressed that even though Dawonsys delayed delivery, more than half of the train down payment had already been paid, saying, "It seems government agencies were scammed."
Earlier, Korea Railroad Corporation (KORAIL) signed contracts in three rounds from 2018 to last year to purchase a total of 474 ITX-Maum (EMU 150) railcars from Dawonsys for 914.9 billion won. Among these, delivery of a total of 218 cars out of the first 150 and second 208 cars was delayed, but Dawonsys went on to win a third-order bid for 115 cars worth 220.8 billion won, sparking controversy.