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Hyundai chief vows new start for embattled conglomerate

SEOUL, Feb. 28 (Yonhap) -- The chairwoman of Hyundai Group vowed to invigorate the embattled conglomerate, currently undergoing a self-imposed debt reduction program, and its shipping affiliate as she launched a new vessel on Friday. "The launching of the ship will help Hyundai Group and Hyundai Merchant Marine (HMM) make the next leap forward," Hyun Jeong-eun said at the christening ceremony for Hyundai Dream, a 131,000 twenty-foot equivalent (TEU) container unit vessel on Geoje Island, some 470 kilometers southeast of Seoul.

Hyundai chief vows new start for embattled conglomerate

SEOUL, Feb. 28 (Yonhap) -- The chairwoman of Hyundai Group vowed to invigorate the embattled conglomerate, currently undergoing a self-imposed debt reduction program, and its shipping affiliate as she launched a new vessel on Friday. "The launching of the ship will help Hyundai Group and Hyundai Merchant Marine (HMM) make the next leap forward," Hyun Jeong-eun said at the christening ceremony for Hyundai Dream, a 131,000 twenty-foot equivalent (TEU) container unit vessel on Geoje Island, some 470 kilometers southeast of Seoul.

Hyundai Motor Group to merge two of its builders

SEOUL, Jan. 16 (Yonhap) -- South Korea's No. 2 conglomerate, Hyundai Motor Group, said Thursday it has decided to merge two of its construction affiliates -- Hyundai Engineering Co. and Hyundai Amco Co. -- in a bid to foster a new growth engine. The move calls for Hyundai Engineering absorbing Hyundai Amco into its fold, with the merger swap ratio set at 1-to-0.18.

Hyundai Motor Group to merge two of its builders

SEOUL, Jan. 16 (Yonhap) -- South Korea's No. 2 conglomerate Hyundai Motor Group said Thursday it has decided to merge two of its construction arms -- Hyundai Engineering Co. and Hyundai Amco Co. -- in a bid to foster a new growth engine for the future. The move comes nearly three years after the world's fifth-largest carmaker bought a controlling stake in the No.1 builder Hyundai Engineering

Hyundai Motor Group to merge two of its builders

SEOUL, Jan. 16 (Yonhap) -- South Korea's No. 2 conglomerate Hyundai Motor Group said Thursday it has decided to merge two of its construction arms -- Hyundai Engineering Co. and Hyundai Amco Co. -- in a bid to foster a new growth engine for the future. The move comes nearly three years after the world's fifth-largest carmaker bought a controlling stake in the No.1 builder Hyundai Engineering

Hyundai Motor Group to merge two of its builders

SEOUL, Jan. 16 (Yonhap) -- South Korea's No. 2 conglomerate Hyundai Motor Group said Thursday it has decided to merge two of its construction arms -- Hyundai Engineering Co. and Hyundai Amco Co. -- in a bid to foster a new growth engine for the future. The move comes nearly three years after the world's fifth-largest carmaker bought a controlling stake in the No.1 builder Hyundai Engineering

Hyundai Motor Group to merge two of its builders

SEOUL, Jan. 16 (Yonhap) -- South Korea's No. 2 conglomerate Hyundai Motor Group said Thursday it has decided to merge two of its construction arms -- Hyundai Engineering Co. and Hyundai Amco Co. -- in a bid to foster a new growth engine for the future. The move comes nearly three years after the world's fifth-largest carmaker bought a controlling stake in the No.1 builder Hyundai Engineering

Five builders banned from bidding on public projects for half year

GWANGJU, Oct. 28 (Yonhap) -- Hyundai Engineering and Construction and four other local builders will be banned from bidding on all public projects for up to six months amid allegations of foul play, an official said Monday. The ban, which is set to take effect starting November, is in response to allegations that the five major builders had either colluded on tender prices for public projects or bribed officials involved in them, said Chang Hak-ki, an official handling the issue at the metropolitan city of Gwangju, located 330 kilometers south of Seoul.

22 construction firm execs indicted for alleged rigging scheme

SEOUL, Sept. 24 (Yonhap) -- A total of 22 incumbent and former executives of 11 major local builders were indicted Tuesday on charges of collusion in the former Lee Myung-bak administration's highly controversial project to refurbish the country's four major rivers, state prosecutors said. The construction firms allegedly colluded to clinch bids and committed various irregularities while participating in the mega-budget project, leading to unfair competition and wasting taxpayers' money, they said.

Hyundai consortium wins US$300 mln deal from Thailand

SEOUL, Aug. 5 (Yonhap) -- Hyundai Engineering Co., a leading South Korean industrial plant builder, said Monday its consortium has clinched a US$300 million contract to build manufacturing facilities for a raw material used in biodegradable household detergents in Thailand. Hyundai Engineering said it and its parent company, Hyundai Engineering
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