HD Hyundai Oilbank, Lotte Chemical get first petrochemical restructuring green light

The government approved the petrochemical industry’s first restructuring plan, known as the Daesan No. 1 Project, as domestic companies seek to respond to a prolonged crisis led by oversupply from global competitors.

2026-02-25

Gov't devises 2.1 trillion won support package for petrochemical restructuring

The government announced Wednesday a 2.1 trillion won ($1.45 billion) financial package to support the restructuring project of Lotte Chemical and HD Hyundai Chemical at the Daesan industrial complex.

2026-02-25

Rising number of firms in financial distress, especially in real estate

A growing number of companies, especially those in the real estate business, are increasingly seeking court-led rehabilitation or financial restructuring, as prolonged market stagnation and high interest rates reveal vulnerabilitiess.

2025-12-17

Mirae Asset announces executive shakeup, group restructuring

Mirae Asset Group announced a round of executive appointments and organizational restructuring on Friday, replacing the heads of three subsidiaries and expanding key business units.

2025-10-24

In fight for survival, petrochemical firms fight key solution — restructuring

Facing an existential threat, the petrochemical sector has claimed to be committed to a government push for change to ensure its survival, but the priorities of various firms don't appear to align with the obvious solution.

2025-09-04

'It's a matter of survival now': Petrochemical firms grapple with government crackdown

Korea announced a petrochemical industry revitalization plan, linking financial aid to voluntary naphtha production cuts. However, industry experts critique the measures, citing a need for more decisive government intervention.

2025-08-20

Homeplus begins hunt for new owner under court-led restructuring

Homeplus has begun the search for a new owner to inject fresh capital as it undergoes court-led restructuring. The strategic shift comes after a court-commissioned audit found the troubled company’s liquidation value exceeds its going-concern value.

2025-06-13

Taeyoung shares suspended as debt restructuring continues

Taeyoung Engineering & Construction's shares were suspended Wednesday due to its negative net asset balance amid debt restructuring.

2024-03-14

Gov't won't give Taeyoung public funds

The Korean government will not use public funds to finance the ailing Taeyoung Engineering and Construction. It urged the company to implement self-rescue plans and gain creditors' trust in order to resolve its liquidity crisis.

2024-01-08

Taeyoung E&C kicks off original debt restructuring plan with $68 million infusion

Taeyoung E&C has received an injection from parent company TY Holdings in a bid to secure creditor approval for the firm's debt workout program. Creditors will reach a final decision on the proposal Thursday.