SEOUL, May 29 (Korea Bizwire) — General Motors’ South Korean unit has announced plans to sell off domestic service centers and production facilities, fueling renewed speculation that the Detroit-based automaker may be preparing to wind down its presence in the country. On Thursday, GM Korea informed employees of its decision to divest nine company-owned service [...]
SEOUL, Aug. 3 (Korea Bizwire) — The already frayed relations between South Korea and Japan will likely plunge further into a fresh downward spiral as a local court is expected to kick off a procedure to sell off assets of a Japanese firm to compensate victims of wartime forced labor. Starting midnight Tuesday, the Pohang [...]
SEOUL, July 13 (Korea Bizwire) — South Korea’s cash-squeezed Doosan Group’s efforts to repay its debts have been on a roll, with its target to repay its debts worth 1 trillion won (US$800 million) by the end of the year appearing to be attainable. The group, however, has confirmed only two deals to sell its [...]
SEOUL, March 31 (Korea Bizwire) — South Korean chipmaker MagnaChip Semiconductor Corp. said Tuesday it has signed a deal to sell its foundry business and a domestic plant for US$435 million. The assets will be sold to a special purpose company (SPC) set up by two local buyout firms — Alchemist Capital Partners Korea and [...]