Articles by 김연세
김연세
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Hyundai Motor preferred bidder for Hyundai E&C
Hyundai Motor Group was designated as the preferred bidder for Hyundai Engineering & Construction on Friday.At the shareholder’s meeting held in downtown Seoul, Hyundai E&C’s eight major creditors approved the proposal by main creditor Korea Exchange Bank that they would push for signing a memorandum of understanding to sell the nation’s largest builder to the automobile giant.It has been reported
Jan. 7, 2011
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FSC, banks strive to rescue savings banks
Financial groups offer to take over troubled secondary institutionsThe government and large banking groups are coming to the rescue of the savings banks industry to prevent their debt crisis from harming the financial system. The extent of urgency in the secondary banking industry could be seen from the remarks of Financial Services Commission Chairman Kim Seok-dong and chiefs of major financial g
Jan. 6, 2011
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Hyundai Motor set to win battle over top builder
Hyundai Motor Group looks set to win its months-long competition with Hyundai Group to take over Korea’s top construction company. Creditors of Hyundai Engineering & Construction, including Korea Exchange Bank, launched their preparations Wednesday to sign a memorandum of understanding with the automobile giant by as early as next week.Their move followed a court ruling Tuesday which supported the
Jan. 5, 2011
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Court dismisses Hyundai’s injunction over builder sale
A Seoul court on Tuesday supported Hyundai Construction and Engineering creditors’ cancellation of a preliminary contract to sell their controlling stakes to Hyundai Group.The ruling cleared the way for them to open negotiations with Hyundai Motor Group, which was initially beat out in one of Korea’s biggest acquisition battles.Creditors including Korea Exchange Bank said that they would decide so
Jan. 4, 2011
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Prosecutors probe former top Woori executives
Woori Bank filed complaints against several former executives with the prosecution last month to investigate allegations that they issued illegal loans and took kickbacks, sources said Tuesday.Among them were two former deputy CEOs of the nation’s second-largest bank in charge of loan business and trust business. The two executives resigned before the bank referred them and several staffers to the
Jan. 4, 2011
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New chief regulator sets hardline stance
Kim Seok-dong, new chief of the Financial Services Commission, said Monday that the financial regulator will actively intervene in the market if necessary for stability.“To secure order and stabilize the market, the authority will take stern measures. On the other hand, the authority will guarantee sufficient autonomy for the sake of reform and development of the market,” he told reporters after t
Jan. 3, 2011
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