Shares in top SK E&C shareholders fall after Laos dam collapse (updated)

SK discovery

25/07/2018 03:02

(Adds latest update on Laos situation, milestone on SK Holdings
share drop)
    SEOUL, July 25 (Reuters) - Shares in major shareholders of
South Korea's SK Engineering & Construction dropped on Wednesday
after a collapse of a dam it was building in Laos that is feared
to have caused dozens of deaths.  
    SK E&C's biggest shareholder, SK Holdings Co Ltd
 034730.KS , fell 6.2 percent, marking its biggest daily
percentage loss since February 11, 2016. The second biggest
shareholder, SK Discovery Co Ltd  006120.KS , slid as much as 10
percent. 
    Rescuers searched in difficult conditions on Wednesday for
dozens of people feared dead and hundreds missing after a dam
collapsed in a remote part of land-locked Laos, one of Asia's
poorest countries, a government official said.  urn:newsml:reuters.com:*:nL4N1UK666 
    SK E&C, a construction unit of South Korean conglomerate SK
Group, said early on Wednesday part of a supply dam was swept
away by heavy rains, causing flooding of nearby villages. The
company was cooperating with the Laos government to help rescue
villagers near the site, the company said.
    Two South Korean companies - SK E&C and state utility Korea
Western Power Co - have stakes in the $1 billion project.

 (Reporting by Heekyong Yang; Editing by Stephen Coates and
Muralikumar Anantharaman)
 ((Heekyong.Yang@thomsonreuters.com; +82 2 3704 5647; Reuters
Messaging: heekyong.yang.thomsonreuters.com@reuters.net))