By the looks of it - yes, more than likely. But you're still only 27 seconds in, let the whole thing run to make sure it is specific sectors.
I'd then open command prompt as an administrator and run CHKDSK /r to see what bad sectors it finds and will at the moment, reallocate them and recover whatever data is in damaged sectors.
But it could well be time for a new HDD.
Does this mean there's no damaged sectors ?
This is my chkdsk result :
Step 1: Examine the basic file system structure ...
431,360 file records processed.
File verification is complete.
44008 large file records processed.
0 bad file records processed.
Step 2: Examine the File Name Linkage ...
523740 index entries processed.
Index checking is complete.
0 unindexed files scanned.
0 unindexed files recovered in lost and found files directory.
Step 3: Review the security descriptors ...
Cleaning up 8 unused index entries from the $ SII index
of file 0x9.
Cleaning up 8 unused index entries from the $ SDH index
of file 0x9.
Cleaning up 8 unused security descriptors.
The verification of the security descriptors is complete.
46191 data files processed.
CHKDSK checks the USN log ...
40627008 USN bytes processed.
USN log verification complete.
Step 4: Find Bad Clusters in User File Data ...
431344 files processed.
File data verification is complete.
Step 5: Find Bad Free Clusters ...
2,207,519 free clusters processed.
The free space check is complete.
Windows scanned the file system and found no problem.
No further action is required.
59,778,047 KB of total disk space.
50295384 KB in 167454 files.
129820 KB in 46192 index.
0 KB in bad sectors.
522767 KB used by the system.
27104 KB occupied by the log file.
8830076 KB available on disk.
4096 bytes in each allocation unit.
14944511 total allocation units on disk.
2,207,519 allocation units available on disk.
Internal information:
00 95 06 00 34 42 03 00 dd 96 05 00 00 00 00 00 .... 4B ..........
cc 02 00 00 75 75 00 00 00 00 00 00 00 00 00 00 .... uu ..........
Windows has finished checking your disk.
Please wait while your computer restarts.
</Data>
</EventData>
</Event>