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Creditors Unlikely to Extend New Financing to Hanjin Shipping

Creditors Unlikely to Extend New Financing to Hanjin Shipping

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, [...]

Hanjin Group Mulls 100 Bln Won to Ease Cargo Chaos

Hanjin Group Mulls 100 Bln Won to Ease Cargo Chaos

SEOUL, Sept. 6 (Korea Bizwire) – Hanjin Group, the parent for the cash-strapped shipper Hanjin Shipping Co., on Tuesday said it plans to provide some 100 billion won (US$91 million), including 40 billion won of group Chairman Cho Yang-ho’s private assets, to its ailing shipping affiliate to ease the deepening shipping chaos triggered by the [...]

Samsung and Hyundai Slash Cash Reserves While Others Raising Them

Samsung and Hyundai Slash Cash Reserves While Others Raising Them

SEOUL, Sept. 14 (Korea Bizwire) – Samsung and Hyundai Motor groups slashed their cash reserves in the first half of the year, while other major conglomerates increased their cash piles, data showed Sunday. Listed affiliates of Samsung Group, South Korea’s top family-controlled conglomerate, had a combined 40.5 trillion won (US$34.1 billion) in cashable assets as [...]

10% of Stocks of Top-30 Group Owners Pledged as Collateral…CEO Score

10% of Stocks of Top-30 Group Owners Pledged as Collateral…CEO Score

SEOUL, Oct. 16 (Korea Bizwire) – As much as 10 percent of all stocks held by the owner families of top-30 conglomerates is being pledged as collateral for their loans with banks and other financial institutions. Of these, the collateral-to-stock ratios of seven business groups including Doosan, Dongbu, and Hanjin were in excess of 50 percent while [...]

Korean Companies Leaning Too Much on Overseas Markets

Korean Companies Leaning Too Much on Overseas Markets

SEOUL, July 4 (Korea Bizwire) – While Korea’s large business groups like Samsung, Hyundai and SK gained about half its sales from overseas markets, their domestic sales decreased 5 percent and their portion fell 2 percentage points respectively last year. According to a recent survey conducted by CEO Score investigating the business performances of the nation’s [...]