STX Shipbuilding files for court-led restructuring

The Korea Herald > Business > Finance

Sales down, profitability up in Corporate Korea in 2015

Sales dropped, but profit margins edged up in Corporate Korea last year, the Bank of Korea said Friday. According to the central bank’s survey of business performance at nearly 20,000 companies in Korea, revenues were down 2.4 percent in 2015 from a year earlier, led by manufacturers, whi...

Updated : 2016.05.27 21:22

Korean shares advance on refiner, chemical gains

South Korean shares closed higher Friday as falling crude prices drove up refiners and chemicals, supported by strong foreign buying. The local currency slightly gained ground against the U.S. dollar.The benchmark Korea Composite Stock Price Index gained 12.11 points, or 0.62 percent, to 1...

Updated : 2016.05.27 16:09

Seoul to introduce 'kill switch' on trading platform next month

South Korea's main bourse on Friday said it will introduce a "kill switch" and other safety measures in its program trading platform next month to prevent investors from suffering losses from trading errors.A kill switch, also known as an emergency stop or e-stop, is a safety mechanism des...

Updated : 2016.05.27 11:24

Gov't to apply stricter lending rules in nonbanking sector

South Korea's financial authorities on Thursday said they will apply stricter lending rules in the nonbanking sector starting in the second half of the year to keep rising household debts in check. Th...

Updated : 2016.05.26 16:58

Seoul seeks to cap ratio of national debt to GDP

The South Korean government said it will seek to cap the proportion of national debt to gross domestic product as part of efforts to preemptively enhance fiscal stability in the long term.In a meeting...

Updated : 2016.05.26 16:19

Tough road ahead for HI investment & securities sale

Debt-ridden Hyundai Heavy Industries is expected to put up stake in Hi Investment & Securities for sale but industry experts are skeptical about a successful M&A. Lack of specialization of the mid-siz...

Updated : 2016.05.26 16:18

Up to 4 buiness groups may be asked to clean up balance sheet

Three or four big business groups may be asked by their creditor banks to take voluntary balance sheet improvement measures, local reports said Thursday. Korea’s large banks are currently reviewing t...

Updated : 2016.05.26 15:10

Household debt jumps 11% from year ago

South Korea's household debt jumped 11 percent in the first quarter despite stricter lending rules at banks, its central bank said Thursday. The country's overall household debt climbed to 1,223.7 tri...

Updated : 2016.05.26 13:31

SM Group not buying part of SPP Shipbuilding: report

Samra Midas Group, or SM Group, has no intention to acquire part of midsized shipyard SPP Shipbuilding from its creditors, a local news report said Thursday.The business group, which owns listed shipp...

Updated : 2016.05.26 11:28

Korean insurers' Q1 net rises 6.3%

South Korean insurance companies posted a 6.3 percent gain in combined first-quarter net profit helped by an increase in insurance premium income, government data showed Thursday. For the three months...

Updated : 2016.05.26 09:28

Banks set to suffer from exposure to troubled shipbuilders

As the specter of bankruptcy rises for Korea’s shipbuilders, concern is growing over local banks’ exposure to the ailing sector. According to industry sources Wednesday, local banks’ exposure to th...

Updated : 2016.05.25 15:56

STX Shipbuilding likely to face court receivership

Creditor banks said they have begun discussing whether to put Korea’s midsized shipbuilder STX Offshore & Shipbuilding under court receivership, as their years of financial aid have failed to improve...

Updated : 2016.05.25 15:54

Contingent liabilities in securities firms jumped 22 pct last year

Contingent liabilities in Korean securities companies jumped 22 percent in 2015 compared to a year earlier, raising worries about their financial soundness, government data showed Wednesday. Contingen...

Updated : 2016.05.25 13:16

Banks worry over reserve requirements as shipbuilding industry tumbles

The imminent overhaul of the shipbuilding industry is shaking up local banks, which will have to raise their reserves once the loans to companies are reclassified as risky, financial officials said We...

Updated : 2016.05.25 09:49

Korean shares open higher on Wall Street gains

Korean stocks started higher Wednesday, following overnight gains on Wall Street.The benchmark Korea Composite Stock Price Index (KOSPI) rose 15.99 points, or 0.83 percent, to 1,953.67 in the first 15...

Updated : 2016.05.25 09:37