Metal Chunk Found in Oil, Smoke and Burning Smell While Running

[Training Wheels]

Hi, Basically I got myself a very old, used and over all, not taken care of Hyosung GT250 with plenty two many KMs on it. Was riding fine for months however on the way to work one day the engine stopped in what felt like a seizure however, after letting it rest I was able to get pistons firing again. I decided to not ride again until the oil had been changed and when i pulled the plug I found a chunk of metal on the magnetic oil plug, not thinking much of it I finished changing the oil then started the bike. After a few minutes of running it began smoke and an intense burning smell filled the air. Not really wanting to spend to much more money on the bike and just want to know if it can be saved.

[ZooTech]

With the majority of the engine being aluminum, it was obviously a steel part stuck to the drain plug. Since the engine seized previously, I suspect it was chunk of piston ring which would explain the smoke you have now.

[Training Wheels]

Do you think it would be an expensive fix? If so is it possible to do it myself?

[ZooTech]

I'm rebuilding the top end of my Ninja 500 currently. It's not at all expensive really. Having no idea of your aptitude, skillset, and tools I could only offer conjecture as to whether it's something you can do for your bike.

[pchast]

You need some skill to pay attention to fitting the parts.
There are critical clearances that may need adjustment.

Can you do it? Possibly...
Read and check everything, watch some videos,
ruminate on the concerns expressed.
Then, and only then, decide to pick up a wrench or not.

Clean everything first.
Do nothing if you are tired or not alert to all you will need to do.

[ibnzop]

Do you think it would be an expensive fix? If so is it possible to do it myself?