SEOUL, Dec. 27 (Korea Bizwire) – HDC Hyundai Development Co., a midsized construction company, signed a deal on Friday to acquire Asiana Airlines Inc. as the South Korean builder strives to diversify its business portfolio. In their board meetings held early Friday, HDC and Kumho Industrial Co., a construction unit of Kumho Asiana Group, approved [...]
SEOUL, Dec. 23 (Korea Bizwire) — Kumho Asiana Group is set to sign a formal deal with a local consortium this week to sell its flagship airline unit, industry sources said Monday. Kumho Industrial Co., the largest shareholder of Asiana, will sign the deal with a consortium comprised of HDC Hyundai Development Co. and brokerage [...]
SEOUL, Nov. 1 (Korea Bizwire) — Nearly two-thirds of South Korea’s top 30 conglomerates have been dissolved or dropped out of the standings since the 1997 Asian financial crisis, a market tracker said Wednesday. According to corporate tracker CEO Score, 19 family-controlled conglomerates, called chaebol here, disappeared altogether from the list with the remainder maintaining [...]
SEOUL, July 7 (Korea Bizwire) – Creditors of Kumho Tire Co. on Friday decided to offer final concessions to resolve a dispute surrounding the usage fee of the Kumho brand between the tiremaker’s parent company and China’s Qingdao Doublestar Co. The concessions came after a meeting earlier in the day with Kumho Tire’s creditors, which [...]
SEOUL, March 29 (Korea Bizwire) – Creditors of Kumho Tire Co. are set to send a notice to the chief of Kumho Asian Group asking him to provide details for a buyback plan for the country’s No. 2 tiremaker, including the formation of a consortium to take over the business, industry sources said Wednesday. The [...]