SEOUL, Sept. 4 (Korea Bizwire) — Cash-squeezed Doosan Group said Friday that it will repay 3 trillion won (US$2.5 billion) in debt to its main creditors by selling new shares of Doosan Heavy Industries & Construction Co. and other affiliates’ assets. Doosan Heavy Industries & Construction is to float new shares worth 1.3 trillion won [...]
SEOUL, June 11 (Korea Bizwire) — Debt-laden Doosan Group will raise 1 trillion won (US$800 million) this year by selling new shares and its assets to ease its cash shortage crisis, the group’s chairman said Thursday. Park Jeong Won, chairman of the group, said the group will push for sales of its assets in line [...]
SEOUL, May 2 (Korea Bizwire) – Although the surge in household debt has been slowing down, the burden on the financially disadvantaged has in fact increased. Concerns are spreading about a ‘Balloon Effect’ as the economically disadvantaged are unable to easily obtain bank loans, and are therefore seeing their debt materialize as loans with onerous [...]