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Corporations Buy Luxury Supercars for ‘Business Purposes,’ Raising Suspicion

Corporations Buy Luxury Supercars for ‘Business Purposes,’ Raising Suspicion

SEOUL, Aug. 12 (Korea Bizwire) — A number of South Korean corporations were found to have purchased luxurious supercars for ‘business purposes,’ raising suspicions that the cars could have been driven by management staff or representatives for private use. Rep. Lee Yong-ho (Independent) reported that according to the Ministry of Land, Infrastructure, and Transport, there were [...]

Another Private Equity Fund Joins Consortium to Acquire SsangYong Motor

Another Private Equity Fund Joins Consortium to Acquire SsangYong Motor

SEOUL, Aug. 9 (Korea Bizwire) — Another homegrown equity fund renowned for its failed attempt to take over the holding company of the country’s largest airline last year has joined a consortium to acquire SsangYong Motor Co., the consortium said Monday. The Korea Corporate Governance Improvement (KCGI) fund came aboard the consortium that Edison Motors [...]