SEOUL, Aug. 31 (Korea Bizwire) – Slightly over 8 percent of South Korea’s major listed companies suffered a double whammy of operating and net losses in 2015 amid an economic slump, data showed Wednesday, sparking concern over their financial health. According to the data by the Korea 20000 Corporate Research Institute, 23 of the 273 [...]
SEOUL, May 13 (Korea Bizwire) – Cash-strapped Hanjin Shipping Co., South Korea’s largest shipper, has joined a new alliance led by a German company amid its creditor-led debt restructuring, the company said Friday, but its local rival Hyundai Merchant Marine Co. was excluded from the group. The shippers have been suffering from ballooning debts and [...]
SEOUL, March 21 (Korea Bizwire) – An embattled shipper, Hyundai Merchant Marine Co., said Monday that it has applied for self-rescue measures which need approval from its creditors, in a bid to put its business back on a normal path. In a regulatory filing, South Korea’s No. 2 shipper said “it filed for co-management with [...]