Hyundai Unit's Parting Probed
The Fair Trade Commission said Wednesday it is examining the separation of Hyundai Engineering & Construction Co. and Seoul Securities Co. from their parent business groups, the Hyundai Group and the Daelim Group.Hyundai Construction recently told the commission that the builder is no longer linked with the Hyundai Group, after creditors became the contractor's largest shareholder, through a debt-equity swap. The equity held by Chung Mong-hun, the former largest shareholder in the builder and de facto leader of the Hyundai Group, was written off, before the debt-for-stock exchange.
with the Korea JoongAng Daily
To write comments, please log in to one of the accounts.
Standards Board Policy (0/250자)