Results for South Korea
- Huge Claim Sees Daehan File For Court Receivership
Medium-size South Korean yard Daehan Shipbuilding, which has a huge bulker and products-tanker orderbook involving high-profile owners, has filed for court receivership, TradeWinds reported. The DSME-managed builder’s application to the Gwangju District ...
Daily Headline - global.abi.org - 07/06/2014 - 22:01 - 0 comments
- 20% of Affiliates of Conglomerates on the Brink of Insolvency
About 19.7 percent of the subsidiaries of Korean conglomerates are with impaired capital, or have a debt ratio of over 400 percent, BusinessKorea reported. According to management evaluation firm CEO Score, out of the 1,418 subsidiaries of the 47 busines ...
Daily Headline - global.abi.org - 06/30/2014 - 22:12 - 0 comments
- Major Shareholder Of South Korean Ferry Operator Applies For Receivership
The major shareholder of the South Korean operator of the ferry on which hundreds of high school students drowned in April has applied for receivership, a court said on Monday, Reuters reported. Chonhaiji Co Ltd, a ship block maker and the major sharehol ...
Daily Headline - global.abi.org - 06/23/2014 - 23:20 - 0 comments
- 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