The Seoul City government has imposed fines on the domestic major ready-mixed concrete company, Sangpyo Industrial, for delaying the report on the change of its representative, it was reported on the 23rd.
Seoul City imposed fines on Sangpyo Industrial for violating the Basic Construction Industry Act. According to this law, general contractors must report to the local government within 30 days of a change in their representative. Fines may be imposed if this deadline is exceeded.
A Seoul City official noted, "As a result of verification through registration, we identified missing elements and imposed fines."
As of that day, the registration for Sangpyo Industrial lists Lee Jong-seok, Ji Seung-min, and Seok Hee-cheol as its representatives. Lee completed registration on July 29 last year, Ji on November 27 last year, and Seok on July 15 this year. In Lee's case, it is a reappointment, and since Seok is newly appointed this month, it seems Ji did not submit the registration.
Sangpyo Industrial is a company established through the spin-off of the ready-mixed concrete segment of Sangpyo Co., Ltd. In 2023, it merged with Sangpyo Co., Ltd., acting as both a ready-mixed concrete business and a holding company.
Meanwhile, Sangpyo Industrial reportedly paid the fines of 180,000 won imposed by the Seoul City government. Initially, fines of 200,000 won were imposed, but they received a 20% reduction for early payment.