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 ...

SSANGYONG MOTOR CO. FILED FOR COURT RECEIVERSHIP; UNDER OVERDUE DEBTS

Highlights –

• SsangYong Motor Co. filed for court receivership; under overdue debts.
• SsangYong Motor Co. has overdue debts of 100 billion won from financial institutions.
• KDB and other creditors of SsangYong Motor did not approve the r...

KOREAN AIR BUYING CASH-STRAPPED ASIANA AIRLINES’ LONG-HAUL OPERATIONS

• With major lenders of Asiana Airlines failing to find a potential buyer for the cash-strapped carrier, an understandable scenario is surfacing that the Korea Development Bank (KDB) will let Korean Air manage Asiana's long-haul business, industry sources said Friday.
• The pre...

“KIKO” - CITIBANK KOREA AND KDB WON’T ACCOMMODATE FSS’ DECISION

Highlight –

• KIKO or knock-in – knock out contracts, Citibank Korea and Korea Development Bank rejects FSS’ decision
•  Earlier FSS had advised commercial banks to pay indemnities
• Citibank Korea’s share was to com...

KDB PROFITS FROM INVESTMENTS MADE IN ENTERTAINMENT INDUSTRY, BTS, PARASITE

Highlights –

• Korea Development Bank gets good returns from investment
• BTS Agency, ‘Parasite’ flows in good revenue
• KDB affiliates encouraged to invest in the country’s cultural content

According to ...

Head Mahindra exec tours Korea to get assistance for SsangYong Motor

At times during the regular operations of the business, the owner realizes that the business could do much better than the present if collaboration is made with some other business. This collaboration of different businesses at times does wonders for both the partners. Joint ventures or partnersh...