The eclipse of Moon Inc
Article Abstract:
Sun Myung Moon is seeking to revive his career in Latin America, and his business empire in South Korea has been hit by the economic crisis of that country. Four of his Tong Il companies have filed for receivership, while a fifth collapsed in May 1998. Japanese contributions had helped the South Korean companies, but contributions from Japan have dropped. A plan to develop a tourist resort in North Korea has been shelved. The Panda car plant in China has been shut down, though the lease for the site of the plant has turned out to be a valuable asset.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 1998
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A survival guide
Article Abstract:
Indonesian conglomerate Bakrie & Brothers managed to reach a provisional debt-forgiveness agreement with a committee representing more than 300 creditors on Jan 7, 1999. It has thus become the first Indonesian concern to clear its books since the country's economic crisis began. Richard Gitlin, a government-appointed mediator, was very influential in securing the deal. Gitlin believes that Bakrie offered everything of value it had to its creditors. If the deal is approved, it could benefit other Indonesian companies.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 1999
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