KAMCO "More Corporate Asset Sale Applications Than Expected... First Deadline on the 20th"
Resumption of Applications and Registrations in October
[Asia Economy Reporter Park Sun-mi] Korea Asset Management Corporation (KAMCO) has received more responses from companies than expected for the corporate asset sale support applications, which have been accepted since the 17th of last month.
On the 18th, Moon Sung-yoo, President of KAMCO, stated, "More companies applied than initially anticipated," and added, "Considering the purpose of the program, we will conduct thorough reviews and in-depth discussions at the committee to select support targets. We will proceed with the procedures swiftly so that companies in urgent need can receive timely support."
The corporate asset sale support program refers to the process where companies (corporations) apply to sell assets they hold to secure liquidity and improve financial structure, in accordance with the corporate asset sale support measures approved and announced at the Emergency Economic Central Countermeasures Headquarters meeting on June 11. After review, KAMCO either solely or jointly with the private sector acquires the assets.
KAMCO announced the program operation on the 15th of last month and has been accepting applications since the 17th. To ensure prompt and efficient processing, the first deadline for new company registrations and asset sale applications is scheduled for 6 PM on the 20th of this month. Currently, practical reviews are underway regarding whether the assets applied for over the past month through the KAMCO On-Company website align with the program’s purpose and operation intent.
Hot Picks Today
"Samsung and Hynix Were Once for the Underachievers"... Hyundai Motor Employee's Lament
- After Topping 8,000 Instead of Hitting 10,000... KOSPI Plunges—When Will It Rebound?
- "They Said It's Impossible to Get—Already Selling for Triple the Price: Crowds Worldwide Line Up for $600 Luxury Watch"
- SK hynix Tops “Best Large Companies to Work For” Ranking Based on Employee Review Data
- "That? It's Already Stashed" Nightlife Scene Crosses the Line [ChwiYak Nation] ③
KAMCO stated, "We are closely monitoring the review status and processing of the applied assets and plan to resume applications and acceptance in October. However, the Sale and Leaseback (S&LB) program for small and medium-sized enterprises, which has been operating prior to the launch of the corporate asset sale support program, will continue to accept applications regardless of the first deadline."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
