Page 17 - Uljin News Today : Breaking News, Live Updates & Top Stories | Vimarsana

A persistent liquidity crunch at Lotte Group's construction unit prompted Korea's fifth-largest conglomerate to pour over 1 trillion won ($750 million) into Lotte E&C over the past month, despite a worsening credit outlook for other affiliates. In addition to fundraising from the group's affiliates and loans from banks, Lotte Group Chairman Shin Dong-bin's personal assets were even used to rescue the cash-strapped builder.

A persistent liquidity crunch at Lotte Group's construction unit prompted Korea's fifth-largest conglomerate to pour over 1 trillion won ($750 million) into Lotte E&C over the past month, despite a worsening credit outlook for other affiliates. In addition to fundraising from the group's affiliates and loans from banks, Lotte Group Chairman Shin Dong-bin's personal assets were even used to rescue the cash-strapped builder.

Houses were inundated and people were stranded in farms after Uljin, Donghae and other eastern coastal cities in Korea were flooded by over 180 millimeters of rain over two days earlier this week. However, regions on the other side of the country are now reeling from a completely opposite kind of climate disaster. The low levels of precipitation over the past months are causing reservoirs ― that provide tap and drinking water in South Jeolla Province and Jeju Island ― to reach a dangerously low level, putting on edge the central government, responsible for addressing the hardships of local...

Heavy rainfall forecast in eastern North Gyeongsang Province, South Korea through Nov. 23. Flooding and associated disruptions ongoing.

A four-seat light aircraft piloted by a student under training crashed at Ulsan Airport on Thursday, leaving him seriously injured, fire authorities said.