Latecomers that did not submit letters of intent by the preliminary-bid deadline will not be allowed to join the main bid for JoongAng Ilbo. The sellers, including creditors, distributed bidding guidelines stating that only preliminary bidders would be evaluated, ruling out newly discussed participants such as Taekwang Group and KG Group under the current process. Six shortlisted candidates—Orion, Daou Technology, Global Sae-A, OK Financial Group, E-Broadcasting and Geumbodevelopment—are conducting due diligence. Bidders must provide a 10 billion Korean won deposit and evidence of cash held by the legal entity making the bid, including average deposit balances for the past month. The requirements could burden holding companies and other bidders arranging financing within a tight timetable. The sellers said the strict eligibility rules protect the fairness of the public sale, although latecomers could regain an opportunity if the process is halted or the main bid is invalidated and restarted.