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Bankruptcy procedure in Korea : A perspective

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  • Bankruptcy procedure in Korea
  • Yun, Mikyung
  • Korea Institute for International Economic Policy


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Title Bankruptcy procedure in Korea
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Sub Title

A perspective

Material Type Reports
Author(English)

Yun, Mikyung

Publisher

Seoul:Korea Institute for International Economic Policy

Date 1998-07
Series Title; No KIEP Working Paper / 98-02
ISBN 89-322-4024-8
Pages 52
Subject Country South Korea(Asia and Pacific)
Language Korean
File Type Link
Subject Economy < Macroeconomics
Industry and Technology < Entrepreneurship
Holding Korea Institute for International Economic Policy

Abstract

Considering Korea's current economic environment, foreigners are likely to have greater interest in Korean bankruptcy procedures than before. However, little English-written material covering the subject currently exits. To fill this gap, this paper briefly describes reorganization procedures and introduces some of the related discussions that have taken place recently. Korean reorganization consists of two distinct processes: composition and corporate reorganization. Some of the most important issues raised with respect to these procedures are; 1) treatment of existing managers and shareholders, 2) the appropriate roles of composition and corporate reorganization (and whether they should be unified), and 3) interim financing.