The Moon Jae-in government is working on a new way of corporate restructuring. The restructuring is likely to be led by private sector participants such as private equity funds (PEFs) in most cases, but by the government itself in the case of large corporations that have a significant impact on the
Hyundai Merchant Marine Co. (HMM) will purchase a port terminal in Spain which was operated by Hanjin Shipping Co.The nation’s largest shipping company said in a regulatory filing on May 11 that it will buy a 100 percent stake in the Total Terminal International Algeciras (TTIA) in Spain for 117.6 b
Kim Young-moo, vice chairman of the Korea Shipowners’ Association, said on April 23 that the disbandment of the Ministry of Oceans & Fisheries in the previous administration and its revival in the next, that is, the lack of policy consistency has led to the current crisis of the shipbuilding and shi
Hyundai Merchant Marine (HMM) and Daewoo Shipbuilding & Marine Engineering (DSME), which have entered into a revival after a massive restructuring each, signed an unusual contract to build ships. Some experts In the shipbuilding and shipping industries say that behind the deal between HMM and DSEM b
The Fair Trade Commission of Korea announced on April 3 that the number of companies belonging to the 27 South Korean business groups subject to loan guarantee and cross-shareholding restrictions increased by 24 in a month and totaled 1,155 as of April 1. In comparison to last month, 34 have been ne
A SM Group-led consortium was selected as the preferred bidder for the cash-strapped STX Corp on March 14.Earlier last week, the SM Group and three other companies jointly made an offer to buy STX Corp.Since mid-February, the selling-off of STX has been suspended because of the erosion of its capita
Hanjin which is the mother company of Korean Air, failed to draw one single investor in November's demand forecast for corporate bonds in November last year, was shunned once again.According to the financial investment industry on March 9, Hanjin carried out a full-day demand forecast for the issuan
South Korea’s current account surplus showed a sign of slowing down in January with its current account surplus continuing longest. Its monthly service account deficit reached a record high. This is because Korea’s travel account deficits snowballed as the number of outbound travelers hit a record h
There is a grim outlook that a low freight charge trend, which caused the global shipping industry to suffer big loss last year, will continue this year. This is because huge container ships ordered by global shipping companies in 2015 will be delivered to them and put in operation one after another
South Korean Deputy Prime Minister Yoo Il-ho presided over a ministerial meeting on January 25 to discuss how to revive the South Korean shipbuilding, shipping, steel and chemical industries.According to him, the South Korean government is planning to further accelerate the restructuring of the ship
Hyundai Merchant Marine Co. (HMM), has decided to buy a 20 percent stake in Hanjin Shipping Co.'s Terminals International LLC (TTI), which operates a terminal at the Port of Long Beach in the United States. With the latest decision, the company will be able to secure a stable profit on the Asia-U.S.
Korea Ratings said that Korean Air Lines’ decision on January 5 to raise 450 billion won (374.84 million) through share capital increase will help improve its financial status, but not significantly.In regard to Korean Air, the credit rating agency said on the 10th, “The paid-in capital increase wil
SM Line which had newly entered the container business by acquiring Hanjin Shipping's assets officially launched after completing the organization of its structure.SM Line announced on January 8 that the company held its official inauguration ceremony with the participation of president Kim Chil-bon
Container shipping costs, which radically plunged, now shows signs of recovery after the fall of Hanjin Shpiping Co. The strategy of Maersk Line, the world's largest shipping group which cuts down shipping fees until its competitors fall down and pick fruit when they are liquidated, seems to be work
Korea Line Corp., a subsidiary of the SM Group, has prepared the payment of the acquisition price with thorough due diligence since signing a contract for the acquisition of Hanjin Shipping's US and Asian routes. However, there are concerns that the sell-off of the assets may be cancelled as recentl
The South Korean government is scrambling to save the nation’s shipping industry which is on the brink. In particular, it plans to make pan-governmental effort to promote Hyundai Merchant Marine Co. (HMM) as the nation’s leading container line with the global competitiveness.According to the Ministr
Hyundai Merchant Marine Co. (HMM), a major shipping line here, will receive fresh funds of 300 billion won (US$256.52 million) from creditors in order to acquire Hanjin Shipping’s assets, including the Long Beach Terminal in California. Korea Development Bank (KDB) has also pledged to provide more f
Hyundai Merchant Marine Co. (HMM) announced on December 11 that it has agreed with the 2M shipping alliance to form a new looser cooperative relationship named "2M+H Strategic Cooperation" and the agreement is scheduled to begin in April next year. The initial term of the cooperation is three years
The leaders of nine major Korean conglomerates on December 6 attended the first National Assembly hearing for a scandal involving President Park Geun-hye and her longtime confidante Choi Soon-sil with no government position and pledged to eradicate deep-rooted collusive links between politicians and
Creditors in the United States gave Hanjin Shipping an ultimatum with regard to the sale of its Long Beach Container Terminal and Chapter 11. Chapter 11 is likely to be initiated if no final negotiator is determined by December 15 among Korea Line Corporation, Hyundai Merchant Marine and Hahn & Comp