South Korea

Results for South Korea

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 - 22:18 - 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 - 21:26 - 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 - 22:21 - 0 comments

Daewoo CEO Says Should Step Down if Shipbuilder Is Unable to Turn Profit

CEO Jung said he expected Daewoo to receive considerable calls from shipowners for "builder's default", cancelling existing orders, if the company goes into court receivership - the regulator's alternate plan for the troubled firm in ...

Daily Headline - global.abi.org - 03/26/2017 - 20:01 - 0 comments

South Korea's Daewoo Shipbuilding to Get Fresh $2.6 Billion Bailout

South Korean state banks are preparing a fresh $2.6 billion bailout for floundering Daewoo Shipbuilding & Marine Engineering Co Ltd (042660.KS), which has built up huge losses from offshore projects and risks missing debt repayments, Reuters reported ...

Daily Headline - global.abi.org - 03/23/2017 - 22:38 - 0 comments

Politics Weigh As Korea's KEPCO Eyes The Toshiba Nuclear Option

South Korea's KEPCO, the likeliest suitor for Toshiba Corp's troubled nuclear business, is holding off from making an approach because of question marks over the scale of damage at the unit and political uncertainty in both South Korea and the ...

Daily Headline - global.abi.org - 03/23/2017 - 22:51 - 0 comments

Korean Shipbuilder Seeks Another Bailout

South Korea’s financial authorities are considering a new bailout package for troubled shipyard Daewoo Shipbuilding & Marine Engineering Co. that includes haircuts for bondholders and fresh loans, people directly involved in the matter said, The Wa ...

Daily Headline - global.abi.org - 03/22/2017 - 22:46 - 0 comments

DSME May Face Crisis in April Due to Debts

Daewoo Shipbuilding & Marine Engineering (DSME), once one of Korea's biggest shipbuilders, faces a potential crisis, despite claims to the contrary. The financial authority here has assured the market that the company faces no such scenario wher ...

Daily Headline - global.abi.org - 03/13/2017 - 22:07 - 0 comments

South Korea Court Declares Hanjin Shipping Bankrupt

A South Korean court declared Hanjin Shipping Co Ltd bankrupt on Friday, after ruling earlier this month that the firm's liquidation value would be worth more than its value as a going concern, the International New York Times reported on a Reut ...

Daily Headline - global.abi.org - 02/20/2017 - 23:16 - 0 comments

South Korea's Biggest Sea Carrier Attempts Recovery After Hanjin Disaster

Hyundai Merchant Marine Co., South Korea’s biggest sea carrier, said it will post losses through the first half of 2018 as the container-shipping industry attempts to recover from Hanjin Shipping Co.’s bankruptcy and years of excess capacity, Bloomberg N ...

Daily Headline - global.abi.org - 02/07/2017 - 22:27 - 0 comments

Syndicate content