Results for South Korea
- 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 - 11/23/2015 - 23:01 - 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 - 22:54 - 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 - 18:51 - 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 - 21:14 - 0 comments
- South Korea To Launch Government-Led Corporate Restructuring To Tackle "Zombie" Companies
South Korea plans to open a government-led corporate restructuring market to speed up the liquidation of "zombie" companies and resuscitate marginal firms suffering a "temporary" financial stress, Xinhua reported. "Corporate rest ...
Daily Headline - global.abi.org - 09/20/2015 - 19:52 - 0 comments
- A Major Warning From One Of The Most Reliable Bellwethers Of The World Economy
South Korean exports in August plunged 14.7% from a year ago, Business Insider reported. This was much worse than the 5.9% decline expected by economists. And it was the biggest drop since August 2009. This is a troubling sign, as Korea's export ...
Daily Headline - global.abi.org - 09/01/2015 - 18:49 - 0 comments
- Debt-Restructuring Firms In Offing
The financial regulator will set up companies specializing in debt restructuring programs next year, seeking to let them take over jobs from lenders struggling to manage debt-driven corporations, The Korea Times reported. The Financial Services Commi ...
Daily Headline - global.abi.org - 08/23/2015 - 16:40 - 0 comments
- South Korea Grapples With Legal Contradiction Presented By ‘Chaebols’
While other countries fret over banks that are too big to fail, South Korea is grappling with the concept of systemically important human beings. Last week President Park Geun-hye announced a special pardon for Chey Tae-won, scion of the founding family ...
Daily Headline - global.abi.org - 08/17/2015 - 19:11 - 0 comments
- Daewoo Shipbuilding Announces Restructuring After $2.6 Billion Q2 Loss
South Korea's Daewoo Shipbuilding & Marine Engineering Co Ltd said on Monday it would sell non-core assets, and shut down or exit non-essential units as part of restructuring after a multi-billion dollar loss in the April-June quarter, The Eco ...
Daily Headline - global.abi.org - 08/10/2015 - 16:55 - 0 comments
- Young and Old Fight Over Jobs in Korea as Generation Gap Widens
With youth unemployment near a 15-year high and the government planning to raise the retirement age, intergenerational conflict over jobs is rising in South Korea, Bloomberg News reported. The jobless rate for workers aged 15 to 29 touched 11 percent ear ...
Daily Headline - global.abi.org - 06/09/2015 - 21:33 - 0 comments