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Hyundai BS&C named as frequent law violator

[THE INVESTOR] Hyundai BS&C, a construction firm associated with Hyundai Group, has been outed for frequently shortchanging subcontractors.

Records from the Fair Trade Commission showed that Hyundai BS&C was caught violating related laws exceeding the set limit between 2013 and 2015.

Hyundai BS&C was established by Chung Dae-sun, one of the grandsons of Hyundai Group founder Chung Ju-young and husband of former celebrity anchor Noh Hyun-jung. 


Hyundai BS&C founder Chung Dae-sun
Hyundai BS&C founder Chung Dae-sun


The junior Chung was previously CEO of the firm and holds the entire controlling stake in Hyundai BS&C, which is focused on building homes and mixed-use apartment buildings in urban areas.

Related laws were revised in 2010 to allow the FTC to release the names of frequent violators.

The violations mostly involved payment delays.

Five firms including SPP Shipbuilding, Daekyung Construction and Sambu, were included in this list. Their names will stay on the FTC homepage until June 28, 2017.

In 2011, when the FTC first began to release the names of frequent violators, there were 20 firms. That number had fallen to four in 2014 and seven in 2015.

By Kim Ji-hyun (jemmie@heraldcorp.com)
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