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 14 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:
- Access all locked articles
- Receive our daily newsletters
- Access our app
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
.jpg&w=384&q=75)
