South Korea

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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 - 19:49 - 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 - 17:40 - 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 - 20:11 - 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 - 17:55 - 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 - 22:33 - 0 comments

South Korea Contract Workers At Heart Of Labour Reform Challenge

South Korea’s economy grew just 0.4 per cent in the last three months of last year from the previous ...

Daily Headline - global.abi.org - 04/20/2015 - 22:33 - 0 comments

South Korea In Balancing Act On Household Debt

South Korea’s government is fighting to address the dangers of the nation’s fast-rising household debt burden — even as critics accuse it of stoking the credit boom through deregulation aimed at boosting the housing market, the Financial Times report ...

Daily Headline - global.abi.org - 03/26/2015 - 22:19 - 0 comments

Daebo Files Chapter 15

South Korean bulker operator Daebo International Shipping has filed for bankruptcy protection in the Southern District of New York, TradeWinds News reported. The Chapter 15 petition follows an application to commence rehabilitation proceedings in the ...

Daily Headline - global.abi.org - 03/16/2015 - 20:02 - 0 comments

Third Dry-Bulk Shipper Files For Bankruptcy As Rates Tumble

A third dry cargo shipper has filed for bankruptcy this month following a collapse in freight rates to historic lows in what shippers call the worst market conditions since the 1980s, Commodities Now reported. South Korea's Daebo International S ...

Daily Headline - global.abi.org - 02/23/2015 - 22:31 - 0 comments

Court OKs Receivership For Dongbu's Construction Unit

A local court said Wednesday it has decided to commence a receivership program for midsize South Korean builder Dongbu Corp., which has recently been hit by financial troubles amid a slump in the construction industry, the Yonhap News Agency reported. Th ...

Daily Headline - global.abi.org - 01/07/2015 - 22:42 - 0 comments

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