Скачать или смотреть S.Korea announces corporate restructuring measures / YTN

South Korea's top financial regulator announced a package of the government's corporate restructuring plans today (Tuesday) which largely deal with the faltering shipbuilding and shipping industries.

The announcement was made by Financial Services Commission Chairman Yim Jong-Yong after presiding over an emergency meeting on the restructuring programs.

On top of the shipping and shipbuilding sectors, the steel, construction and petrochemical industries are known to be under the government's scrutiny as they have been hit by a prolonged business slump and massive operating losses.

Yim also said the government will raise funds through state-funded banks including the Korea Development Bank (KDB) to support the restructuring scheme, calling for the economy to go under an immediate restructuring plan.

Meanwhile, Hanjin Shipping Co., South Korea's top container carrier, which has been suffering from prolonged sluggish business, has announced that it submitted self-rescue measures to its creditor banks led by the KDB to restructure its debt.

The measures include a pledge by Hanjin Group Chairman Cho Yang-Ho's to give up his managerial control over the shipping unit, along with sale of assets.

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[ 한국 뉴스 채널 와이티엔 / Korea News Channel YTN ]