Kyungji Cho

May 12, 2024 | bloomberg.com | Kyungji Cho

South Korean authorities unveiled Monday measures to orchestrate an “orderly soft-landing” for real estate project-finance debt, with rising delinquency rates threatening to be a drag on the economy. The government will refine criteria used to evaluate the feasibility of real estate project financing sites, seeking to distinguish which projects are feasible, according to a joint statement by the nation’s Financial Services Commission and Financial Supervisory Service.

May 9, 2024 | bnnbloomberg.ca | Kyungji Cho |Youkyung Lee

(Bloomberg) -- South Korea plans to announce measures for troubled project-finance debt next week in an effort to ease the stress in banking and real estate businesses, according to the nation’s financial watchdog chief. The government will roll out a normalization plan for project financing sites as restructuring shouldn’t be delayed any further, Lee Bokhyun, governor of the Financial Supervisory Service, said in a meeting with foreign press on Thursday.

May 9, 2024 | bloomberg.com | Kyungji Cho |Youkyung Lee

South Korea plans to announce measures for troubled project-finance debt next week in an effort to ease the stress in banking and real-estate businesses, according to the nation’s financial watchdog chief. The government will roll out a normalization plan for project financing sites as restructuring shouldn’t be delayed any further, Lee Bokhyun, governor of the Financial Supervisory Service, said in a meeting with foreign press on Thursday.

Apr 29, 2024 | bnnbloomberg.ca | Kyungji Cho

(Bloomberg) -- Creditors of distressed Korean builder Taeyoung Engineering & Construction Co. are poised to decide Tuesday on whether to allow the firm to begin restructuring its debt, after it rattled local markets at the start of the year. The builder of everything from office towers to industrial plants needs to receive backing from creditors that hold at least 75% of its aggregate debt, according to a previous statement from its main lender Korea Development Bank.

Apr 29, 2024 | bloomberg.com | Kyungji Cho

Creditors of distressed Korean builder Taeyoung Engineering & Construction Co. are poised to decide Tuesday on whether to allow the firm to begin restructuring its debt, after it rattled local markets at the start of the year. The builder of everything from office towers to industrial plants needs to receive backing from creditors that hold at least 75% of its aggregate debt, according to a previous statement from its main lender Korea Development Bank.