Tag: restructuring

restructuring

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Korea plans largest-ever public institution overhaul, but hurdles remain

Seoul plans to merge major energy and port agencies and split LH, but debt, regional opposition and shareholder concerns could delay the process.

2026.9.4

Lotte Chemical's Daesan Plant in Seosan, South Chungcheong, is seen in this file photo [JOONGANG ILBO]

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.

2026.2.25

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HD Hyundai Oilbank's oil refining plant in Daesan, South Chungcheong [HD HYUNDAI OILBANK]

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.

2026.2.25

Mirae Asset Group's headquarters in Jung District, central Seoul [JOONGANG ILBO]

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

A view of Yeochun NCC, a petrochemical company in the Yeosu Industrial Complex in South Jeolla Province, which is struggling with financial difficulties [NEWS1]

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.

2025.9.4

A view of Yeochun NCC, a petrochemical company in the Yeosu Industrial Complex in South Jeolla, which is struggling with financial difficulties [NEWS1]

'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.

2025.8.20

Taeyoung Engineering & Construction's headquarters in Yeongdeungpo District, western Seoul [YONHAP]

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.

2024.1.8

Struggling Taeyoung E&C files for debt restructuring

Taeyong E&C, Korea's 16th-largest builder, has filed for debt restructuring, raising concerns about the construction industry's debt crisis.

2023.12.28

Korea Inc. must learn from Toshiba’s fall

Toshiba’s case brings the moment of truth for Korean companies, educational institutions, government and politics.

2023.12.21

Let the president focus on what he does best

If the president applies his bulldozing style to structural reform, his supporters will return.

2023.10.17