'8-month business suspension' Hyunsan, 'one more year' additional disciplinary action possible

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disciplinary process against Hyundai Development Company, which caused accidents one after another, has begun.

It is predicted that the business will be suspended for as long as one year and eight months, and new business will not be possible.

Reporter Han Sang-woo reports.

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building being demolished collapsed and hit a passing bus, killing nine people.

The accident occurred in June last year at the redevelopment site in Hak-dong, Gwangju.

The city of Seoul gave the original building, Hyundai Industrial Development, an 8-month suspension of business in advance, asking for responsibility for the accident.

It is explained that the administrative disposition was exercised by the Seoul Metropolitan Government because the local government that registered the business has the authority, but it is the strongest disposition under the current law.

[Seoul City Official: Intentional or gross negligence, the case of inflicting casualties on the general public due to poor construction (business suspension) is 8 months.]

In addition, the Hwajeong-dong collapse accident caused 6 workers to die or disappear at the construction site, resulting in business suspension. It can be up to 1 year.

In this case, Hyundai Development Company cannot start new business for one year and eight months.

The company will try to lower the level of discipline through litigation, but large losses are inevitable.

[Construction industry officials: For projects ordered by the public and private sectors, it may become difficult to receive orders or business activities, and the damage may result in a significant decrease in the company's sales after two or three years.]

If all apartments in Hwajeong-dong are demolished and rebuilt, it is expected to reach 450 billion won including the existing construction cost.

At other construction sites, there is a movement to reject I-Park, and credit rating agencies have also announced that they will review their credit rating.

Hyundai Development, which ranks ninth in construction capacity, is highly likely to disappear from the list of so-called top ten construction companies with high brand preference.