South Korea

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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 - 21:56 - 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 - 22:35 - 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 - 00:15 - 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 - 00:42 - 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 - 21:30 - 0 comments

South Korea Keeps Kumho Alive with Restructuring

A consortium of creditors led by state-owned Korea Development Bank agreed on Friday to keep debt-laden Kumho Tire afloat after a Won955bn ($835m) sale to China’s Doublestar fell through this month. The deal shows the extent to which the government will ...

Daily Headline - global.abi.org - 10/01/2017 - 18:45 - 0 comments

South Korean Shipbuilders Show Signs of Recovery

South Korea’s troubled shipbuilding industry is showing signs of recovery, with the country’s three biggest shipyards surpassing rivals in China and Japan in terms of new orders, the Financial Times reported.s Daewoo Shipbuilding had the biggest orde ...

Daily Headline - global.abi.org - 06/20/2017 - 20:28 - 0 comments

South Korea’s Daewoo Shipbuilding Thrown a Lifeline

South Korea’s debt-ridden Daewoo Shipbuilding & Marine Engineering Co., the world’s second biggest shipyard, was thrown a lifeline after creditors agreed to a massive debt-to-equity swap as part of a bailout plan, The Wall Street Journal reported ...

Daily Headline - global.abi.org - 04/18/2017 - 21:18 - 0 comments

Daewoo Shipbuilding's Bailout Plan Cleared by Pension Fund

Daewoo Shipbuilding & Marine Engineering Co., the world’s largest shipbuilder, won a reprieve from major bondholder National Pension Service and other lenders, helping avert a payment crisis that had threatened to almost shut the company, Bloomberg N ...

Daily Headline - global.abi.org - 04/17/2017 - 20:26 - 0 comments

Time Running Out for World’s Top Shipbuilder as Creditors Argue

South Korea’s National Pension Service has a decision to make -- help the world’s biggest shipmaker survive, or let it die. Creditors to Daewoo Shipbuilding & Marine Engineering Co. are due to meet next week to decide whether to convert some of the 1 ...

Daily Headline - global.abi.org - 04/11/2017 - 21:21 - 0 comments

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