Tag: bankruptcy

bankruptcy

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Korean banks offer emergency loans to Homeplus suppliers after court ends rehabilitation

Major lenders are offering low-interest emergency loans and fee relief after attempts to restructure were halted by the Seoul Bankruptcy Court.

2026.7.8

Deadline for Homeplus's rehabilitation plan extended by 2 months

The deadline for Homeplus’s rehabilitation plan has been extended by two months, just one day before the expiration of its court-supervised restructuring period, averting potential bankruptcy or liquidation proceedings.

2026.3.3

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Older citizens wait in line for the free meal near the Tapgol Park in central Seoul on Jan. 20. [NEWS1]

Bankruptcy claims grow for Koreans in their 60s as retirement funds run dry, debts rise

A trend known as "elder bankruptcy" is rising in Korea. Almost half, or 46 percent, of all personal bankruptcy applicants last year were aged 60 or older, according to the National Court Administration. This was the highest proportion ever recorded.

2026.1.27

WeMakePrice declared bankrupt by Seoul court

WeMakePrice, an online shopping platform that had been undergoing corporate rehabilitation due to large-scale unpaid settlements and unprocessed refunds, was declared bankrupt on Monday.

2025.11.10

Shoppers enter a Forever 21 fashion retail store at the King of Prussia mall in King of Prussia, Pennsylvania, Sept. 30, 2019. [REUTERS]

Fast-fashion retailer Forever 21 files for bankruptcy, again

Fast-fashion retailer Forever 21's U.S. operating company filed for Chapter 11 bankruptcy for the second time in six years on Sunday, hamstrung by dwindling mall traffic and mounting competition from online retailers.

2025.3.17

[Column] Trust is the most reliable asset for banks

Korean banks who play safe with their primary income coming from interest rates must not let down their guard against the risk of spillover.

2023.3.23

[Editorial] Bracing for backlash from the SVB collapse (KOR)

The woes in the U.S. and Europe cannot be taken lightly.

2023.3.22

[Editorial] Bracing for backlash from the SVB collapse

The woes in the U.S. and Europe cannot be taken lightly.

2023.3.21

[Column] Preemptive measures to stop a financial crisis

We need a contingency plan to prepare for a scenario in which the current crisis turns into a global crisis and affects the Korean financial market.

2023.3.20

Myongji University in Seodaemun District, western Seoul [MYONGJI UNIVERSITY]

Myongji Educational Foundation still in deep water over debt

Myongji Educational Foundation, one of the largest private education foundations in Korea, teeters on the brink of bankruptcy with around 200 billion won ($166.7 million) of debt as the court suspended the ongoing rehabilitation proceedings.

2022.2.14