South Korea

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South Korea Court Declares Hanjin Shipping Bankrupt

A South Korean court declared Hanjin Shipping Co Ltd bankrupt on Friday, after ruling earlier this month that the firm's liquidation value would be worth more than its value as a going concern, the International New York Times reported on a Reut ...

Daily Headline - global.abi.org - 02/20/2017 - 22:16 - 0 comments

South Korea's Biggest Sea Carrier Attempts Recovery After Hanjin Disaster

Hyundai Merchant Marine Co., South Korea’s biggest sea carrier, said it will post losses through the first half of 2018 as the container-shipping industry attempts to recover from Hanjin Shipping Co.’s bankruptcy and years of excess capacity, Bloomberg N ...

Daily Headline - global.abi.org - 02/07/2017 - 21:27 - 0 comments

Hanjin Shipping's Collapse

The domestic shipping industry, which is already facing difficulty due to a long recession, has been hit by one of its biggest crises due to the collapse of Hanjin Shipping, the Korea Times reported in a commentary. Pressed by snowballing debt, Korea ...

Daily Headline - global.abi.org - 02/05/2017 - 21:37 - 0 comments

South Korea Court Says Expects To Declare Hanjin Shipping Bankrupt On Feb. 17

A South Korean court said on Thursday it decided to end Hanjin Shipping Co Ltd's court receivership process and expects to declare bankruptcy on February 17 after a two-week period for appeals, Reuters reported. The Seoul Central District Court said ...

Daily Headline - global.abi.org - 02/02/2017 - 21:32 - 0 comments

U.S. Judge Approves Sale By Hanjin Shipping Co Of Total Terminals Stake

Bankrupt South Korean shipping line Hanjin Shipping Co Ltd won U.S. court approval at a hearing on Wednesday for the $78 million sale of its stake in U.S. terminal operator Total Terminals International LLC, overcoming objections of container companies. ...

Daily Headline - global.abi.org - 01/18/2017 - 21:44 - 0 comments

In a Blow to Prosecutor, South Korean Court Blocks Arrest of Samsung Leader

A South Korean court on Thursday blocked a prosecutor’s attempt to arrest Jay Y. Lee, the leader of Samsung, saying there was not enough evidence that Mr. Lee had bribed President Park Geun-hye, in a scandal that led to her impeachment, the Internation ...

Daily Headline - global.abi.org - 01/18/2017 - 21:46 - 0 comments

Samsung Leader Quizzed For Over 22 Hours In South Korea Corruption Scandal

Samsung Group leader Jay Y. Lee left the South Korean special prosecutor's office early on Friday, more than 22 hours after arriving for questioning on bribery suspicions in an influence-peddling scandal that could topple President Park Geun-hye. Le ...

Daily Headline - global.abi.org - 01/12/2017 - 23:10 - 0 comments

Samsung Heir Questioned as Bribery Suspect in South Korean Probe

The third-generation heir of South Korea’s Samsung conglomerate is being questioned Thursday in relation to suspected bribery, prosecutors said, drawing the country’s biggest and most powerful business group deeper into an unfolding political scandal tha ...

Daily Headline - global.abi.org - 01/11/2017 - 22:41 - 0 comments

Hanjin Shipping Sells Part Of Container Ship Business For $31 Million

South Korea's Hanjin Shipping Co Ltd said on Tuesday it decided to sell part of its container ship business to Korea Line Corp for 37 billion Korean won ($31.38 million). Korea Line will buy Hanjin's Pacific routes shipping business, relevant c ...

Daily Headline - global.abi.org - 11/21/2016 - 21:00 - 0 comments

Korea Line Outbids Hyundai Merchant Marine for Hanjin Shipping Assets

Shipping operator Korea Line Corp. won a contest for some assets of bankrupt Hanjin Shipping Co., whose collapse in late August stranded billions of dollars in cargo at sea, disrupting supply chains world-wide, The Wall Street Journal reported. In a ...

Daily Headline - global.abi.org - 11/14/2016 - 21:02 - 0 comments

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