S. KOREA’S HANJIN HEAVY TO BE SOLD OFF TO DONGBU CORP.

Highlights –

• S. Korea’s Hanjin Heavy to be sold off to Dongbu Corp.
• The company’s shares ended low on Friday trading at 7,650 won.
• KDB, creditor of Hanjin Heavy will sell 66.85 percent of its stake in the company to Dongbu...

SSANGYONG MOTOR CO. TO EXTEND SUSPENSION OF ITS LOCAL PLANT

Highlights –

• SsangYong Motor Co. to extend the suspension of its local plant.
• The extension comes due to a lack of parts from contractors.
• The troubled car company has received a two-month suspension to pay its debts to its creditors....

DOOSAN HEAVY DECIDED TO SELL 35% OF ITS STAKE IN DOOSAN INFRACORE

Highlights –

• Doosan Heavy decided to sell 35% of its stake in Doosan Infracore.
• Doosan Heavy will sell its stake for $757 million to Hyundai heavy Industries Holdings Co.
• Doosan Heavy disposed of 76 million shares of its construction ...

SSANGYONG MOTOR ANNOUNCES WAGE CUT FOR ITS EMPLOYEES FOR JAN. AND FEB.

Highlights –

• SsangYong Motor announces wage cut for its employees for Jan. and Feb.
• The car company is struggling with court receivership.
• The company’s vehicle sales in 2020 fell 19 percent to 107,324 units.
• Under So...

SSANGYONG MOTOR’S UNION ASKED TO COOPERATE IN REHABILITATION, BUSINESS TURNAROUND

Highlights –

• SsangYong Motor’s union asked to cooperate in rehabilitation, business turnaround.
• The creditor bank for the automaking company has asked for the same.
• The creditors will not give the company any money if the union ...

GM KOREA TO RETHINK FUND INFLOW IN MAIN PLANT AMIDST ONGOING STRIKE

• GM Korea Co., the South Korean unit of General Motors Co., said Friday it will weigh its decisions and reconsider investing in its main plant as its union continues to strike for higher wages.
• GM Korea will mull over making an investment in the company's No. 2 Bupyeong plan...