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Sun, December 10, 2023 | 17:36
Creditors to extend W4.2 tril. to Daewoo Shipbuilding
Creditor banks of Daewoo Shipbuilding & Marine Engineering (DSME) will inject 4.2 trillion won ($3.7 billion) into the company in an effort to keep the financially-troubled shipbuilder afloat.
Korea to suffer short-term money drain
Korea will suffer an extensive short-term capital flight from its financial markets to the United States, along with capital withdrawals from emerging markets, before a planned U.S. rate increase, said a McKinsey executive.
Banks urged to weed out 'zombie firms'
The financial regulator urged banks to weed out debt-ridden nonviable companies, dubbed “zombie firms” here, Tuesday.
Gileum Raemian to go on sale this month
Samsung C&T, a construction affiliate of Samsung Group, will begin selling individual apartments in a 2,352-unit complex in Gileum, northern Seoul, late this month in a redevelopment project of what used to be a backward area, the company said Monday.
Shinhan Jan-Sept net jumps 11%; non-banking helps
Shinhan Financial Group posted an 11 percent jump in net profit for the first three quarters of this year helped by cost reductions, decreased loan-loss provisions and increased gains in non-banking operations.
'Choinomics' falling flat
The government will not achieve its 3.1 percent growth target this year, Finance Minister Choi Kyung-hwan said Saturday, admitting that he had been too optimistic. This is the first time for the minister, who has pushed a series of stimulus packages dubbed “Choinomics,” to say the growth rate will fall short of the government’s forecast.
Losses at 3 shipyards widening on costs, slump
Korea’s three biggest shipbuilders are set to post over 7 trillion won ($6.2 billion) in operating losses this year because the industry has not found a way out of a prolonged slump, industry watchers said Sunday.
Seoul in talks to export lottery system next year
Nanum Lotto, Korea’s sole lottery operator, said last week it was in talks with partners in emerging countries to export its Lotto system next year.
Deregulation, incentives key to success of Saemangeum
Government officials and experts said Monday that deregulation and incentives will be essential for transforming the Saemangeum area in North Jeolla Province into a global free trade zone.
KAI expects W1 tln deal from Airbus
Korea Aerospace Industries (KAI) said Monday it had signed an initial agreement with Airbus to deliver more aircraft parts worth 1 trillion won ($885 million) to the European airplane maker.