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Industry wary of Taeyoung woes despite debt restructuring approval

The local construction industry remains uneasy about the possibility of a chain reaction of insolvencies and defaults by small players, despite Thursday’s approval of engineering and construction firm Taeyoung E&C's debt renegotiation ...

South-korea , United-states , Korea , American , Kohlberg-kravis-roberts , Taeyoung-group , Fair-trade-commission , Ty-holdings , Korea-development-bank , Korea-investors-service , Whether-taeyoung , Korea-ratings

Local ratings agencies hit for projections failures, stalling

Three local ratings agencies are coming under heavy criticism for slashing credit ratings for Taeyoung Engineering and Construction, only hours after the troubled builder filed for debt workout, on Dec. 28 of last year. They are Moody's Investors Service-affiliated Korea Investors Service, Korea Ratings and NICE Investors Service.

South-korea , Korea , Korea-investors-service , Moody-investors-korea-service , Investors-service , Tongyang-group , Taeyoung-construction , Taeyoung-engineering , Korea-ratings , Aeyoung , Ebt

More companies face credit downgrade risks due to project financing exposure

A growing number of small brokerages and construction firms have suffered either credit ratings downgrades or lower credit outlook prospects over the past month due mostly to elevated risks associated with real estate project financing, market watchers said Monday.

South-korea , Daishin , Kangwon-do , Korea , Korea-investors-service , Investors-service , Korea-ratings , Daol-investment , Shinsegae-construction , Kim-ki-myoung , F

Real estate risks set to hit brokerages in 1st half of next year

Fears are mounting of poor growth for local brokerages, fueled by a combined 12 trillion won ($9.1 billion) in project financing risk exposure certain to wipe out bridge loan-tied credit before next June, according to market watchers, Wednesday. A bridge loan is a high-risk, high-interest loan operated mostly by securities firms and savings banks for the short term.

South-korea , Korea , Korea-investors-service , Investors-service , Korea-ratings , Daol-investment , Mirae-asset-securities , Irae-asset-global-investments , Orea , Nvestigation , Eal-estate-pf

GS faces stock, ratings fall amid construction scandal

GS Engineering & Construction (GS E&C) is forecast to suffer an additional fall in its stock price and credit ratings, hit hard by its involvement in a series of construction fraud scandals. According to data from the Korea Exchange, GS E&C shares extended a sharp decline of around 26 percent this month alone.

Gwangju , Kwangju-gwangyoksi , South-korea , Seoul , Soult-ukpyolsi , Incheon , Inch-on-gwangyoksi , Korea , Investors-service , Hyundai-development-company , Korea-investors-service

Eduwill grapples with increase in employee complaints related to worsening labor conditions

Eduwill, a provider of online education services for adults who seek to become public servants or to get licenses for jobs, is facing growing complaints from employees about its series of measures to reduce welfare benefits, according to industry officials, Wednesday. Their complaints mainly resulted from the company's request to return to a five-day work week.

South-korea , Korea , Korea-ratings , Eduwill , Orkweek , Elfare , Egastudy , Ackers , Orea , Outh-korea , He-korea-times

HD Hyundai's CI change enables Hyundai Heavy scions to reap huge profits: civic group

HD Hyundai is facing questions from progressive civic groups, which suspect that the recent change of its corporate identity (CI) may have been intended to bring money to HD Hyundai President Chung Ki-sun and his father, Asan Foundation Chairman Chung Mong-joon, the shipbuilding group's largest shareholder and son of late Hyundai Group founder Chung Ju-yung.

Seongnam , Kyonggi-do , South-korea , Gyeonggi , Korea , Chung-ju-yung , Hyundai-heavy-industries-group , Hyundai-group , Hd-hyundai-global-rd-center , Asan-foundation , Asan-foundation-chairman-chung-mong-joon

Lotte Chemical's acquisition of Iljin Materials 'lowers credit outlook'

Three local credit rating agencies are rushing to lower the outlook for Lotte Chemical, Monday, casting doubt over whether the chemical affiliate of Lotte Group spending 2.7 trillion won ($1.8 billion) to buy Iljin Materials, the country's second-largest copper foil manufacturer, was business overreach.

South-korea , Korea , Kim-kyo-hyun , Lotte , Lotte-group , Korea-investors-service , Investors-service , Lotte-chemical-vice-chairman-kim , Korea-times , Chemical-vice-chairman-kim , Lotte-chemical

LG Group chief seeks global expansion with 1st overseas trip

LG Group Chairman Koo Kwang-mo will visit manufacturing plants and business facilities operated by major affiliates overseas soon, according to industry watchers, Tuesday. This is his first official overseas trip since he took the helm of the conglomerate in June 2018.

Busan , Pusan-gwangyoksi , South-korea , Poland , Korea , Koo-kwang-mo , Lg-corp , Lg-group , Lg-energy-solution-in-wroclaw , Lg-electronics-in-mlawa , Chairman-koo-kwang-mo-korea-times

HDC to suffer downgrade risks in credit, ESG and brand power

HDC to suffer downgrade risks in credit, ESG and brand power

South-korea , Gwangju , Kwangju-gwangyoksi , Korea , Hyundai-development-company , Korea-investors-service , Hyundai , Investors-service , Development-company , Korea-ratings , Lee-eun-mee