The founder of Taeyoung Group said he will revive the ailing Taeyoung Engineering and Construction(E&C) even if the proposed self-rescue plans are insufficient and require shares of TY Holdings and affiliate Seoul Broadcasting System as collateral.

At a press conference on Tuesday, Yoon Se-young said the group plans to faithfully carry out its self-rescue efforts instead of waiting for support from creditors.

This comes amid calls from the government and creditors for the conglomerate to submit another self-rescue plan in addition to a package of four already unveiled when applying for a workout of the construction firm.

The four plans include the injection of all of 154-point-nine billion won, or around 118 million U.S. dollars, from the sale of Taeyoung Industry, which was completed on Monday.

Other proposed measures are the sale of subsidiary Ecorbit, with proceeds to be directed toward Taeyoung E&C, as well as the pursuit of a sale of group subsidiary BlueOne.