South Korea

Results for South Korea

Government Role In Corporate Debt Restructuring

The hot topic in Korean corporate circles today is undoubtedly the moves by the government and state-run policy banks to bail out the ailing shipbuilding and shipping companies, The Korea Herald reported. Given the importance of these sectors in Kore ...

Daily Headline - global.abi.org - 05/09/2016 - 21:47 - 0 comments

Hanjin Shipping Seeks Creditor-Led Debt Restructuring

South Korea’s Hanjin Shipping Co. Ltd., is seeking to put itself under a creditor-led restructuring after a senior government official said the country’s ailing shipping firms may go into receivership if they can’t rebuild their businesses on their own, ...

Daily Headline - global.abi.org - 04/24/2016 - 17:21 - 0 comments

South Korea Household Debt Pile Mounts

South Korea’s household debt rose to a record Won1,200tn ($973bn) at the end of last year, worsening one of the country’s biggest vulnerabilities even as the government strives to put the national mortgage stock on a more stable basis, the Financial Ti ...

Daily Headline - global.abi.org - 02/24/2016 - 20:50 - 0 comments

HHIC Seeks Voluntary Debt Restructuring, Expects 2015 Loss

South Korea’s Hanjin Heavy Industries & Construction (HHIC) is seeking a debt restructuring with its creditors and is expecting to post its sixth consecutive year of losses in 2015, reports said. In a regulatory filing to the stock exchange, HHIC sai ...

Daily Headline - global.abi.org - 01/07/2016 - 23:19 - 0 comments

Seoul Debt Restructuring Vehicle Anticipates Plenty More Ship Buys In 2016

Korea Asset Management Corp (KAMCO) anticipates it will continue to buy up plenty of ships from locally distressed lines next year, Splash24/7 reported. As of the end of October, the state-run debt restructuring company had purchased 35 vessels from ship ...

Daily Headline - global.abi.org - 12/07/2015 - 23:46 - 0 comments

Korean Company Saves Carlsson From Insolvency

Korean Company Sambo Motors Co. Ltd has taken control of German tuning company Carlsson, GTSpirit.com reported. The Korean company has promised further investment for the Saarland Merzig company and has sought to reassure Carlsson’s employees that their ...

Daily Headline - global.abi.org - 12/07/2015 - 00:00 - 0 comments

Zombie Companies in South Korea Spur Restructuring Push

Policy makers in Seoul are accelerating efforts to restructure debt-laden and unprofitable companies before an anticipated rise in U.S. interest rates and any further slowdown in China reverberates in South Korea, Bloomberg News reported. Falling exports ...

Daily Headline - global.abi.org - 11/24/2015 - 00:01 - 0 comments

Six Percent Of Korean Firms Face Insolvency

The government has been preparing to preemptively restructure insolvent companies ahead of the anticipated interest rate hike by the U.S. central bank, and a new study showed that nearly 6 percent of Korean companies could need it, Korea JoongAng Daily ...

Daily Headline - global.abi.org - 11/19/2015 - 23:54 - 0 comments

Financial Watchdog Picks 175 Debt-Laden Smes For Restructuring

South Korea's financial watchdog said Wednesday that it has picked 175 small and medium enterprises (SMEs) to be placed under debt restructuring this year as part of government-led efforts to sort out highly indebted firms and prevent their sudden c ...

Daily Headline - global.abi.org - 11/11/2015 - 19:51 - 0 comments

Restructuring Of Steel, Petrochemical Firms To Gain Speed

The chief financial regulator said Wednesday that he will help creditors speed up restructuring of steel, petrochemical and shipping companies struggling to stay afloat after being hit hard by low demand in global markets, The Korea Times reported. F ...

Daily Headline - global.abi.org - 11/04/2015 - 22:14 - 0 comments

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