This article was published on May 28, 2025, at 11:03 a.m. on the ChosunBiz RM Report site.

It was reported on the 28th that DAEYU Holdings, which had served as an intermediate holding company for the DAEYU Winia Group, has filed for bankruptcy.

DAEYU Group logo. /Courtesy of DAEYU Group

The Seoul Bankruptcy Court Division 12 (Chief Judge Choi Doo-ho) issued a bankruptcy ruling for DAEYU Holdings on the 26th. DAEYU Holdings was established in July 2016 through the partitioning merger of the stock business sector of Donggang Holdings, the holding company of the DAEYU Winia Group, and the electronic division of DAYOU PLUS.

According to industry sources, DAEYU Holdings went bankrupt due to inability to pay debts resulting from excess liabilities. As of the end of last year, DAYOU PLUS had total assets of approximately 38,080,555,000 won and liabilities of around 172,874,444,000 won, meaning the liabilities exceeded the assets by more than four times.

It is reported that the group holding company DAEYU Holdings experienced deteriorating financial conditions, as its affiliated companies filed for rehabilitation due to management declines, leading to a sharp drop in equity values. Major affiliates of the DAEYU Winia Group, including WINIA and Winia Electronics, have been undergoing court-sanctioned rehabilitation procedures since 2023.

It is known that the creditor side, DAYOU PLUS (now DH Autonex), filed for the bankruptcy of DAEYU Holdings. DAYOU PLUS, which entered the rehabilitation process in November 2023, was sold to the home appliance company DH Global in September last year. Subsequently, DAYOU PLUS also filed a lawsuit in December last year, demanding the return of a loan worth 26 billion won from DAEYU Holdings and other affiliates of the group.