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South Korea unveils steps to quicken real estate project finance restructuring

Distressed Korea Builder Taeyoung Faces Debt Restructuring Vote

Taeyoung E&C creditors approve debt restructuring plan

Creditors of South Korean builder Taeyoung Engineering & Construction have agreed to approve a set of debt restructuring plans, primary creditor Korea Development Bank said in a statement on.

Creditors of Taeyoung E&C approve capital reduction plan

Creditors of Taeyoung Engineering & Construction on Tuesday approved a massive capital reduction plan designed to support the builder currently undergoing a debt restructuring program. More than 75 percent of the builder's creditors agreed to the plan to reduce major shareholders' stakes at a 100-to-1 ratio without compensation. The plan, proposed by Taeyoung's main creditor, Korea Development Bank.

South Korea's $80-B real-estate debt bomb exposes weaknesses in $63-trillion shadow banking system | Finbarr Flynn

SOUTH Korea is emerging as a closely watched weak link in the $63-trillion world of shadow banking. Real-estate exposure has been showing cracks at home and abroad after interest rates rose, prompting financial firms including T. Rowe Price Group Inc. and Nomura Holdings Inc. to express concern about stress in…