Many industries and companies are in agony and striving to survive in this difficult times. The global outlook isn’t still rosy. Domestic companies exposed to such dangers are left with no other choice but to trim themselves and be reborn in a healthier state.
As many of you already know, corporate restructuring has become a big issue in Korea. In order to ensure swiftness and effectiveness of the painstaking process, FSC announced a new approach to corporate restructuring.
On Aril 13, FSC Chairman had a meeting with commercial bank CEOs to discuss and set out a new corporate restructuring scheme. The new approach starts from the awareness that the current corporate restructuring system led by creditor banks has come to a limit. Against such backdrop, the new scheme was designed to complement the existing framework and to shift its focus to more market-based restructuring schems in which PEFs play a bigger role.
Clicking the link below will lead you to FSC’s press release which outlines detailed measures.