중앙데일리

More Debt Will Be Written Off at Kia

Kia's debt write off will increase from the current 2.9 trillion won up to 4 trillion won, an affiliate close to the matter said. The affiliate said on September 25, ' The government thinks that there are many ways to dispose of Kia, for example a third round of bidding with the sale of assets and big deals between the automakers.' He also said that the debts of Kia Motors and Asia Motors are 5.6 trillion won more than the companies' assets.…

Sept 25,1998
Ford Still Interested in Kia

Ford is still interested in Kia. But Ford's interest is only under the condition of writing off of Kia's debts. Jack Nasser, Asian Pacific President of Ford Motors, said in an interview with Bloomberg News Agency, ' We are still interested in Kia with pertinent debts removed.' Ken Brown, Asia and Pacific spokesman for Ford, said in a telephone interview with Yonhap News Agency, ' Kia will have trouble in operations as long as it retains its…

Sept 24,1998
Samsung Develops Plastic LCD

Samsung Devices announced on September 24 that they developed a plastic LCD, the largest one in the world so far at 5.9 square inches. This product substitutes a plastic film of 0.6mm thickness. It was already previously unveiled at a conference held in Anaheim, California, last May.…

Sept 24,1998
Second Auction for Kia Motors Fails

The second round of international bidding for Kia and its subsidiary Asia Motors has failed again. Kia Motors announced on September 23 that all three bidders Hyundai, Daewoo and Samsung Motors suggested additional conditions that nullified the bidding. All three companies required the writing off of Kia's debts. Kia Motors said that it would prepare the additional measures in the near future to sell off the company. Accordingly, the third…

Sept 23,1998
Korean Won and Stock Market Continue Their Slide

The value of the won slipped on September 23, breaking the 1,400 won level against the US dollar in three months. The won started at 1,405 won per dollar for the day and fell as low as 1,409 won before closing at 1,402 won. Affiliates in the finance industry are explaining that the value of won is slipping recently, as the demand for the US dollar for the repayment of foreign debts continues to increase. Meanwhile, share prices in the stock …

Sept 23,1998
Samsung Electronics" Develops One Giga Bit Memory Semicon

Samsung Electronics Co. announced on September 23 that it developed a one Giga bit (one billion bit) DRAM memory semiconductor chip. They have an engineering sample which is the previous stage before being commercialized. One GB DRAM which is a next-generation semiconductor for workstation PCs or middle size computers has 16 times the capacity of current 64 MB (1 MB= 1 million bit) DRAM. Samsung Electronics will test this product by providi…

Sept 23,1998
Russia Disappointed in Korean Economic Withdrawal

The Russian ambassador to Korea, Yevgeny Afanasiyev said on September 23 that he was sorry that Korean companies are pulling back from the Russian market due to the current Ruble crisis. The ambassador attended a meeting on 'Current Russian Economic Policies and Prospect with Korea' at the Sangui Club, and asserted, 'The recent devaluation of the Ruble makes Russian products cheaper while low salaried working wages is an attractive feature for …

Sept 23,1998
Hyundai"s Announces New "Grandeur XG"

Hyundai Motors Co. announced on September 23 that it developed a new car model, the 'Grandeur XG' and would begin selling it October 1. Hyundai said that it spent 460 billion won and three and a half years in developing the new car. One of the characteristics of the new car is that its interior is more spacious despite a smaller exterior. The new car is equipped with a 3.6 V6 DOHC engine with 196 horse power. Hyundai Motors Co set a sale…

Sept 23,1998
1999 Economic Prospect Bleak

Korea's economic situation is expected to be bleak in 1999. The Samsung Economic Research Institute, one of the most distinguished private economic research institutes in Korea, forecasted in a report titled 'Economic Prospect for 1999', released today, that exports would decrease by 8% to 122.5 billion dollars next year and domestic industrial activities would worsen. The institute predicted that Korea's growth rate would fall 1.8% next ye…

Sept 22,1998
Foreign Capital in Securities Market Reach 4 Trillion Won For the Year

The amount of foreign capital which foreigners invested in Korea's securities market reached 4 trillion won, the Korea Stock Exchange (KSE) announced on September 22. Among the foreign capital, the money ratio for long-term investment funds including foreign pension funds, banks and insurance companies was no more than 23% and the ratio of short term investment funds including mutual funds and investment firms reached 73%. Accordingly, if t…

Sept 22,1998

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