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South Korea's Latest Debt Wreck Faces a Reckoning With Creditors bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
Taeyoung Group Founder Vows to Save E&C Even if Collateral Needed kbs.co.kr - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from kbs.co.kr Daily Mail and Mail on Sunday newspapers.
Yoon Se-young, founder and honorary chairman of Taeyoung Group, has pledged to offer key stakes of SBS, a major broadcaster in Korea, and TY Holdings, to salvage the group s debt-ridden construction subsidiary, if necessary. ....
The government has urged Taeyoung Group to implement additional self-rescue measures for its financially troubled construction subsidiary, Taeyoung Engineering & Construction (E&C). This move is seen as essential for the conglomerate to rebuild trust with creditors and secure their agreement on a debt-restructuring plan. ....
The head of South Korea's top financial authority on Thursday lashed out at Taeyoung Engineering & Construction's self-rescue efforts, saying they fell far short of expectations and urging a new plan within the week. Financial Supervisory Service chief Lee Bok-hyun made the comments during his New Year's press conference at the FSS headquarters in Seoul earlier in the day, just a day after the aili. ....