South Korea to do away with "zombie companies"
Severe economic problems in, not least, South Korea's shipbuilding industry now spur the country's government and banking sector to launch a colossal restructuring process. The aim includes efforts to divest a number of non-performing state-owned companies, so-called "zombie companies."
BY TOMAS KRISTIANSEN
A zombie is defined as the living dead, which is why several of the hundreds of state-owned South Korean companies have been dubbed "zombie companies," because under any other circumstances these companies would have succumbed to death - but not in South Korea, where vast amounts of state capital injections are keeping them alive.
Already a subscriber?Log in here
Read the whole article
Get access for 7 days for free. No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.
With your free trial you get:
Get full access for you and your coworkers
Start a free company trial todayRelated articles
Threat of mass strike in South Korea's shipyards
For subscribers
DSME ready with big plan for restructuring
For subscribers
Several executives leave major Korean yard
For subscribers
