South Korea

Results for South Korea

25 percent of Listed Korean Companies Facing Insolvency Risk

Approximately one-fourth of listed Korean companies are on the brink of insolvency, BusinessKorea reported. Consulting firm AlixPartners held a press conference on March 4 at the Westin Chosun Hotel in Seoul, saying that about 17 percent of the 1,600 or ...

Daily Headline - global.abi.org - 03/05/2014 - 23:19 - 0 comments

Pantech Seeks Fresh Lifeline From Creditors

While the spotlight maybe on the new gadgets being launched at Mobile World Congress by some of the world’s biggest tech companies, spare a thought for little old Pantech, South Korea’s ailing smartphone maker, The Wall Street Journal Korea Real Time ...

Daily Headline - global.abi.org - 02/26/2014 - 22:15 - 0 comments

Ssangyong Files For Court Receivership

Ssangyong Engineering & Construction (E&C) has filed for court protection as its creditors refused to finance the cash-strapped builder, the Seoul-based company said Monday, The Korea Times reported. Ssangyong E&C said it held a board mee ...

Daily Headline - global.abi.org - 01/03/2014 - 02:23 - 0 comments

Kookmin Bank to Close 55 Branches as South Korean Margins Narrow

Kookmin Bank, South Korea’s largest lender by assets, said it will close 55 branches in January as the country’s lenders struggle with the lowest lending margins in four years, Bloomberg reported. The closures will cut costs and help the Seoul-based bank ...

Daily Headline - global.abi.org - 12/02/2013 - 01:20 - 0 comments

Korean Shipping Lines Face Cash Crunch After Expansion

South Korea’s three biggest shipping companies face a cash crunch as 3 trillion won ($2.8 billion) of bonds are due for repayment in the next two years amid mounting losses from a global slump in rates to carry cargo, Bloomberg reported. Hanjin Shipping ...

Daily Headline - global.abi.org - 11/13/2013 - 22:44 - 0 comments

Over 100 SMEs Likely To Face Debt Restructuring This Year

More than 100 smaller firms in South Korea could face debt restructuring this year on consecutive defaults by some large enterprises, the highest tally since the 2008 global financial turmoil, sources from creditor banks said Monday, the Yonhap News Agen ...

Daily Headline - global.abi.org - 10/07/2013 - 23:25 - 0 comments

Three Tong Yang Affiliates File For Court Receivership

Three affiliates of embattled Tong Yang Group on Monday filed for court receivership as a last resort to avert bankruptcy after they failed to secure funds to keep afloat, the group said. South Korea's 38th-largest conglomerate said its three units ...

Daily Headline - global.abi.org - 09/30/2013 - 21:19 - 0 comments

Stocks or Rent Choice Spurs Sales by Individuals

When Choi Jong Hyun found his 50 million won ($46,415) annual salary wasn’t enough to cover the 8 percent jump in rent for his Seoul apartment, he decided to cut back on stock investments rather than take on debt. “I would rather cash out the stocks I no ...

Daily Headline - global.abi.org - 09/29/2013 - 18:06 - 0 comments

STX Pan Ocean Likely to File for Receivership

STX Pan Ocean, the dry bulk carrier unit of Korea's STX Group, is likely to file for court receivership, following a couple of failed attempts by its parent to sell a stake. Receivership is similar to U.S. Chapter 11 bankruptcy, where the court take ...

Daily Headline - global.abi.org - 06/05/2013 - 22:14 - 0 comments

Struggling Korean Builders Tell Employees To Show Loyalty: Buy Apartments

Five years after the global financial crisis, South Korean construction workers are feeling the pinch more than ever as they shoulder a mountain of debt from a real estate bust that has cast a long shadow on the country's growth prospects, Reuters r ...

Daily Headline - global.abi.org - 05/29/2013 - 22:27 - 0 comments

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