Tag - A slew of companies ranging from shipping

Massive restructuring of shipping, shipbuilders in the offing

A slew of companies ranging from shipping, shipbuilding to petrochemicals and steel — once Korea’s growth engines — exposed to financial risks stemming from downturns and bad debts are about to face rigorous restructuring spearheaded by the top financial regulator. The Financial Services Commission said Tuesday that it will carry out the so-called “three-track” system of corporate restructuring. Under the scheme, the regulator in collaboration with other state agencies and creditor banks will identify and restructure companies suffering from an [...]

Read more...