South Korea

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South Korea Urges GM, Union to Reach Wage Deal Swiftly as Tension Rises

South Korea on Friday urged General Motors Co’s local subsidiary and labor union to reach a wage deal swiftly, saying the government will be able to discuss support for the money-losing unit on condition of an agreement. GM, which in February announced i ...

Daily Headline - global.abi.org - 04/08/2018 - 23:58 - 0 comments

Kumho Tire May Face Liquidation if Placed Under Receivership

Embattled tiremaker Kumho Tire Co. will likely face liquidation if it is placed under court receivership, the top financial regulator warned Thursday. A state-run creditor bank has warned that Kumho Tire will have to submit to court protection unless the ...

Daily Headline - global.abi.org - 03/29/2018 - 22:42 - 0 comments

Korean Shipbuilders May See More Casualties, SC Lowy Says

South Korean shipbuilders aren’t out of the woods yet even as orders begin recovering, with the smaller ones facing collapse in the absence of government support, according to a shipping-debt trader, Bloomberg News reported. The government will aid large ...

Daily Headline - global.abi.org - 03/20/2018 - 22:37 - 0 comments

South Korea Minister Says GM Korea Union, Creditors Should Share Restructuring Pain

South Korea’s finance minister said on Monday that General Motors Korea’ creditors and its labor union should share the burden of improving the loss-making operation, Reuters reported. “The unions and creditors should together share the burden, and (rest ...

Daily Headline - global.abi.org - 03/05/2018 - 21:21 - 0 comments

S. Korea's Household Debt Hits Record $1.3 Trillion in 2017

South Korea’s household debt rose to a new record in 2017, even as the government tightened lending terms to cool the property market. Household debt including credit purchases rose to 1,450.9 trillion won ($1.3 trillion) at the end of December, up 8.1 p ...

Daily Headline - global.abi.org - 02/22/2018 - 00:00 - 0 comments

Bitcoin Tumbles Over Exchange-Closure Fears

Bitcoin resumed its slide yesterday, dipping below $14,000 as the cryptocurrency’s dizzying drop from a record set 10 days ago intensified, Bloomberg News reported. The latest blow to the world’s biggest cryptocurrency came from South Korea, where the go ...

Daily Headline - abi_admin - 12/28/2017 - 22:56 - 0 comments

Hyundai Heavy Plunges by Record on $1.2 Billion Share-Sale Plan

Hyundai Heavy Industries Co., the world’s second-biggest shipbuilder, fell by a record following its plan to raise about 1.29 trillion won ($1.2 billion) selling new shares for working capital, Bloomberg News reported. Hyundai Heavy intends to sell 12.5 ...

Daily Headline - abi_admin - 12/26/2017 - 23:35 - 0 comments

South Korea's Hyundai Motor Union Rejects Tentative Wage Deal

South Korean automaker Hyundai Motor Co.’s labor union said on Tuesday its members have rejected the tentative wage deal its leadership had agreed with management last week, Reuters reported. The union in a statement said 50.2 percent of 45,008 voters re ...

Daily Headline - abi_admin - 12/26/2017 - 01:15 - 0 comments

S Korea’s Samsung Heavy Falls by a Quarter on Loss Forecast

Daewoo Shipbuilding and Marine Engineering shedding 3.3 per cent in a broader market that was off 0.3 per ...

Daily Headline - global.abi.org - 12/06/2017 - 01:42 - 0 comments

Daewoo Shipbuilding Drops Almost 65% as Trading Halt Ends

Shares in Daewoo Shipbuilding & Marine Engineering shed close to two thirds of their value on Monday as the world’s second-largest shipbuilder traded for the first time in 15 months, the Financial Times reported. The stock dropped as much as 64.9 ...

Daily Headline - global.abi.org - 10/30/2017 - 22:30 - 0 comments

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