SEOUL, May 4 (Korea Bizwire) — HDC Hyundai Development Co. said Wednesday it will demolish an apartment complex in South Korea’s southwestern area to build it all over again to ally safety concerns. HDC Chairman Chung Mong-gyu said the real estate developer will completely take down eight apartment buildings in Gwangju for reconstruction at the [...]
SEOUL, Sept. 11 (Korea Bizwire) — South Korea said Friday it will inject 2.4 trillion won (US$2 billion) into Asiana Airlines Inc. after a local property developer scrapped its plan to acquire the debt-ridden carrier amid the growing impact of the coronavirus on the airline industry. Kumho Industrial Co., which owns a controlling stake in [...]
SEOUL, July 27 (Korea Bizwire) — HDC Hyundai Development Co., a major property developer, appears to be leaning toward scrapping its plan to acquire Asiana Airlines Inc. as it demanded another round of due diligence on the carrier amid the new coronavirus outbreak, industry sources said Monday. HDC said Sunday it has sent a letter [...]
SEOUL, June 9 (Korea Bizwire) — HDC Hyundai Development Co., a major construction company here, on Tuesday called for a renegotiation with the creditors of Asiana Airlines Inc. over its planned acquisition of the country’s No. 2 airline due to a sharp rise in debts and the growing impact of the new coronavirus on the [...]
SEOUL, April 21 (Korea Bizwire) — HDC Hyundai Development Co., a midsized South Korean builder, is unlikely to close a deal soon to buy Asiana Airlines Inc. as planned due to the devastating coronavirus impact on the airline industry, sources said Tuesday. HDC Hyundai Development had planned to complete the overall process to take over [...]
SEOUL, Nov. 12 (Korea Bizwire) — HDC Hyundai Development Co., a midsized construction firm, is aiming to diversify its business portfolio as it was picked as the preferred bidder for a stake in Asiana Airlines Inc., South Korea’s No. 2 airline. In the final auction for sale of a 31-percent stake in the airline, a [...]
SEOUL, Nov. 5 (Korea Bizwire) — Two consortia led by cosmetics-to-airline conglomerate Aekyung Group and construction firm Hyundai Development Co. (HDC) will be major competitors in the final auction for a stake in Asiana Airlines Inc., industry sources said Tuesday. A 31 percent stake in Asiana Airlines has been up for sale, and lead manager [...]