Sangji Construction extends PF approval deadline for Sinjeong-dong apartment project by 3 months, maintaining conditional contract

Sangji Construction filed an amendment to its construction contract with High Class Development for the Sinjeong-dong 66-2 apartment project, extending the PF approval deadline from June 30, 2026 to September 30, 2026.
The extension is due to delays in design change permits; the contract remains conditional, subject to PF approval, and may be terminated if not obtained.
The contract value of 51 billion KRW represents 29.33% of annual revenue; finalization depends on PF approval.
[AI Summary]This extension is an administrative step due to temporary delays with limited near-term stock impact, but the risk of contract termination if PF fails remains, so investors should monitor approval progress.