SEOUL, Aug. 13 (Korea Bizwire) — South Korea’s top financial regulator will set up an entity that mainly deals with corporate restructuring later this year to put government-led workout programs in private hands, officials said Thursday. In a report submitted to the parliament, the Financial Services Commission (FSC) said it has inked a memorandum of [...]
SEOUL, Aug. 11 (Korea Bizwire) — South Korea’s two policy lenders have shouldered massive bad loans, estimated at 5.5 trillion won (US$4.75 billion), over the past five years, due to a series of collapses of big name companies during the economic slump, a report said Tuesday. The Korea Development Bank (KDB) and the Export-Import Bank of [...]
SEOUL, April 29 (Korea Bizwire) –A majority of Koreans doubt that the prosecutors’ office will be able to thoroughly investigate the bribe scandal of a late businessman. The People’s Solidarity for Participatory Democracy surveyed 1,000 adults on April 25 and 26 on the so-called “Sung Wan-jong List” scandal. Among the respondents, 53.5 percent said that [...]