Hanwha and Kia Motors fail to sell assets, fueling fears

Article Abstract:

Hanwha Group and Kia Motors Corp.'s failure to sell their assets has fueled concerns that such setbacks may delay South Korea's economic recovery. Hanwha said on Sep. 23, 1998, that its effort to sell its power-plant operations to US-based AES Corp. has collapsed because of conflict on the deal's financial terms. On the other hand, the sale of Kia and its commercial vehicle-making unit, Asia Motors Co., has been cancelled for the second time because the three bidding parties required further debt writeoffs. Since the Hanwha and Kia deal are both perceived as a much-needed vote of confidence in the badly-hit Korean economy, some analysts fear that their failure to sell those assets and attract foreign investments would slow economic recovery of the country.

Comment:

And Hanwha Group's failure to sell assets has fueled concerns that such setbacks may delay South Korea's economic recovery

Asset sales & divestitures, Automobiles, Automobile Manufacturing, Electric Power Generating, Electric Power Generation, Kia Motors Corp., Hanwha Group, Article

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Surging Kosdaq could have even more room to advance

Article Abstract:

Investors in South Korea who are seeking for short-term growth may find the country's over-the-counter stock market a highly profitable environment. Despite speculations over high-tech companies, the Korea Securities Dealers Automated Quotation (Kosdaq) market gained more than 133% in 1999. Much of this gain is attributed to the popularity of high-tech and Internet-related start-up companies, which have been drawing the interest of investors through their open and more-focused management strategies.

Securities and Commodity Exchanges, Securities Exchanges, Analysis, Stock-exchange, Stock exchanges, Exchanges, Over-the-counter markets, Over the counter markets

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South Koreans go north and find mountain hiking, fines, detention

Article Abstract:

The future of South Korean tours to North Korea has been put on hold by the detention of one of the tour's participants. Min Young Mi of Seoul, South Korea, was held by North Korean officials for a period of six days from Jun 20, 1999, after allegedly trying to persuade a tour official from the North to defect. The incident, which ended with the release of Mrs. Min, has placed serious doubts on the continuation of the tours despite the apparent interest displayed by a number of South Koreans.

Legislative Bodies, North Korea, Tourist Travel, Foreign Relations, Forecasts and trends, Travel industry, Tourism, North Korean foreign relations, South Korean foreign relations

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