South Korea

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South Korea's Daewoo Shipbuilding to Get Fresh $2.6 Billion Bailout

South Korean state banks are preparing a fresh $2.6 billion bailout for floundering Daewoo Shipbuilding & Marine Engineering Co Ltd (042660.KS), which has built up huge losses from offshore projects and risks missing debt repayments, Reuters reported ...

Daily Headline - global.abi.org - 03/23/2017 - 22:38 - 0 comments

Politics Weigh As Korea's KEPCO Eyes The Toshiba Nuclear Option

South Korea's KEPCO, the likeliest suitor for Toshiba Corp's troubled nuclear business, is holding off from making an approach because of question marks over the scale of damage at the unit and political uncertainty in both South Korea and the ...

Daily Headline - global.abi.org - 03/23/2017 - 22:51 - 0 comments

Korean Shipbuilder Seeks Another Bailout

South Korea’s financial authorities are considering a new bailout package for troubled shipyard Daewoo Shipbuilding & Marine Engineering Co. that includes haircuts for bondholders and fresh loans, people directly involved in the matter said, The Wa ...

Daily Headline - global.abi.org - 03/22/2017 - 22:46 - 0 comments

DSME May Face Crisis in April Due to Debts

Daewoo Shipbuilding & Marine Engineering (DSME), once one of Korea's biggest shipbuilders, faces a potential crisis, despite claims to the contrary. The financial authority here has assured the market that the company faces no such scenario wher ...

Daily Headline - global.abi.org - 03/13/2017 - 22:07 - 0 comments

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 - 23:16 - 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 - 22:27 - 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 - 22:37 - 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 - 22:32 - 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 - 22:44 - 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 - 22:46 - 0 comments

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