South Korea

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South Korea To Ease Capital Control Measures

South Korea is overhauling its capital controls, making it easier to tap overseas markets in a partial reversal of its battle against hot money inflows since the global financial crisis, the Financial Times reported. The move reflects fears that the ...

Daily Headline - global.abi.org - 06/16/2016 - 22:08 - 0 comments

Korea Unexpectedly Cuts Rate to Support Debt Restructuring

South Korea’s central bank unexpectedly cut the benchmark interest rate to a new record low Thursday, citing growing risks to the economy including slowing global trade and the government’s push to restructure indebted companies, Bloomberg News reported. ...

Daily Headline - global.abi.org - 06/09/2016 - 22:17 - 0 comments

Seoul In $9.5 Billion Effort To Calm Shipping Sector Storm

South Korea will pump $9.5bn into state-run policy lenders reeling from huge losses on loans made to the beleaguered shipbuilding and shipping sectors to help them deal with further corporate distress, the Financial Times reported. Corporate restruct ...

Daily Headline - global.abi.org - 06/08/2016 - 20:05 - 0 comments

STX Shipbuilding Put Under Court Receivership

A local court on Tuesday approved a filing by financially shaky STX Offshore & Shipbuilding to be put under a court-led restructuring scheme, paving the way for the shipyard to avert liquidation, The Korea Times reported. Last month, STX Shipbuil ...

Daily Headline - global.abi.org - 06/07/2016 - 21:21 - 0 comments

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

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