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Hyundai Rotem suspended from bidding for government contracts
By 황유미Published : June 24, 2016 - 09:15
[DISCLOSURE] Hyundai Rotem (064350) has been suspended from participating in bids of public institutions in Korea for 10 months, it announced on June 23. It was deemed as an improper contractor for breach of contract. Its sales revenue loss is estimated to be 1.1 trillion won (US$935.6 million) and the railway systems company will file for suspension of execution for administrative disposition.
