SEOUL, Sept. 8 (Korea Bizwire) – Creditors of cash-strapped Hanjin Shipping Co. are unlikely to provide fresh financial aid to the ailing shipper currently under court receivership, industry sources said Thursday, further worsening the outlook for its already crippled cargo shipment. According to the sources, the state-run Korea Development Bank, the main creditor for Hanjin, [...]
SEJONG, Sept. 7 (Korea Bizwire) – South Korea’s government will limit state financing on costly international events hosted by provincial governments as part of its efforts to improve efficiency in budget spending, the finance ministry here said Wednesday. In a government meeting on fiscal strategy chaired by Finance Minister Yoo Il-ho in Seoul, the government [...]
SEOUL, Oct. 25 (Korea Bizwire) – A “loan shark” is a derogatory term referring to a person or body that offers loans at extremely high interest rates. Interest rates are so high that their lending practices are often being accused of exploiting a borrower’s financial troubles. Cash loans to people in dire need of money, [...]