The Korea Development Bank (KDB) officially recognized a possibility of GM’s withdrawal from Korea. In fact, there will be no way to stop GM if the automaker withdraws from Korea. The state-owned bank is the second largest shareholder with a 17% stake in GM Korea.According to a report by the KDB on
The Korea Development Bank (KDB) announced on July 26 that Kumho Tire creditors will accept chairman Park Sam-koo’s recent proposal and pay the tire manufacturer a shortfall in trademark royalties on a yearly basis.The chairman adhered to 0.5% of sales as the trademark royalties to remain effective
According to industry sources including Hyundai Merchant Marine (HMM) on July 25, HMM recently submitted consulting firm AT Kearney’s report about HMM to the Korea Development Bank (KDB). The report says that HMM should receive a total of 9.9 trillion won (US$8.9 billion) in funds to grow into the 8
Kumho Tire’s trade union, subcontractors and partner companies united to prevent the sale of Kumho Tires to Double Star. They also said that although Kumho Asiana Group chairman Park Sam-koo's poor management is a problem and is to blame, they will prevent Kumho Tie from being sold abroad, which wil
Being aware of the current crisis, Korean automakers’ notoriously hard-line labor unions, which are preparing to strike, have decided to focus on pushing for negotiations with their companies.The labor unions of Hyundai Motor and its smaller affiliate Kia Motors as well as GM Korea have unusually ch
Kumho Asiana Group Chairman Park Sam-koo proposed a final offer regarding the use of Kumho Tire trademark, which can make or break the sale of Kumho Tire. He partially accepted the revised offer from the Korea Development Bank (KDB) but asked creditors to clarify the brand usage fees. Park is trying
The Korea Development Bank (KDB) announced on July 13 that the bank will invest about US$130 million in the Haikou International Airport Expansion Project in Hainan Province, China, one of China’s “One Belt, One Road” Projects.The project is a large-scale US$2.8 billion national project supported by
The labor union of GM Korea with a growing possibility of withdrawing from Korea ahead of the expiration of an agreement between the Korea Development Bank and Global GM in October, called on the Korean government to resolve their employment instability.The Committee for the Protection of Employment
Kumho Tires strongly opposed the Korea Development of Bank (KDB)'s evaluation of its management and decided to take a legal action.Earlier on July 7, the KDB fixed the rating of the management evaluation of Kumho Tire in 2016 as “D” and notified of it through the latter’s shareholders council.Kumho
Daewoo Engineering & Construction, which is considered the biggest deal in the merger and acquisition (M&A) market in the second half of this year, will begin its sale process in earnest.According to investment banking (IB) industry sources on July 10, the state-run Korea Development Bank (KDB) plan
GM Korea has faced the biggest crisis in history due to a rapid drop in domestic sales in June, resignation of president and a slow rate of negotiation with the labor union.According to industry sources on July 6, GM Korea is in the state of uneasiness after president and CEO James Kim announced to
The Korea Development Bank (KDB) announced on June 28 that it successfully issued green bonds worth a total of US$300 million. These are the first green bonds issued by the KDB. The purpose of the bonds is to invest in projects for environmental protection and response to climate change.Those bonds
Kumho Tire creditors, which have had disputes over the use of the trademark rights to Kumho Tire, have decided to make a final modified offer to Asiana Group Chairman Park Sam-koo.According to creditors on June 25, Kumho Tire's main creditor Korea Development Bank (KDB) is planning to hold its share
Kumho Tire creditors, including the Korea Development Bank (KDB), made clear on June 20 that they would reconsider whether to retain their business relations with Kumho Asiana Group if the sale of the company falls through. The dispute between the creditors and Kumho Asiana Group Chairman Park Sam-k
The Korea Development Bank (KDB) arbitrarily interpreted the conditions for Kumho trademark rights, which will determine the sale of Kumho Tire, and unilaterally pressed ahead with the sale.Kumho Industrial Co. received an official notice from the KDB on September 13 last year. The bank said it need
On June 15, Daewoo E&C signed a Memorandum of Understanding (MOU) on the development of with Lotte Engineering & Construction, the KDB, and Korea Trade & Insurance Corporation with Petroleum Trading Lao Public Company (PTL) at Laos Vientiane Plaza Hotel.Daewoo E&C and PTL, an international oil tradi
Kumho Industrial accepted creditors’ request for use of its trademark rights on June 9, while claiming that 0.5% of sales should be paid in return and cancellation should not be allowed. this constitutes a de facto refusal, according to industry sources.Kumho Industrial’s, that is, chairman Park Sam
It has been found that Kumho Tire creditors recently sent a message to Doublestar Tyre in order to call on the Chinese tire manufacturer to stick to their stock purchase agreement (SPA). “It seems that Doublestar is trying to acquire Kumho Tire at a lower price by breaking the current deal and biddi
The Korea Development Bank (KDB) is planning to initiate the disposal of Daewoo Engineering & Construction in September after lead manager selection scheduled for next month, according to industry sources. At present, a private equity fund fully owned by the KDB has 50.75% of the builder’s shares an