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FINANCIAL TIMES | WALL STREET JOURNAL HSBC Nears Sale of South Korean Unit | The British bank HSBC is close to finalizing a deal to sell its South Korean retail bank to the KDB Financial Group, as part of a strategic decision by HSBC to reinvent itself as a corporate bank, The Financial Times reports.
Lernout's bankruptcy filings followed the discovery of a $100 million cash shortfall in the company's South Korean unit last summer.
The bankruptcy filings followed the discovery of a $100 million cash shortfall in Lernout & Hauspie's South Korean unit last summer.
Lernout began to unravel when a $100 million cash shortfall was discovered in its South Korean unit last summer.
The company's founders have resigned, and the Securities and Exchange Commission is investigating accounting practices and sales at its Korean unit.
G.M.'s South Korean unit makes more than 4 of every 10 Chevrolet-branded vehicles sold globally and supplies almost all Chevrolets sold in Europe.
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"They fear North Korean units would try to infiltrate Japanese territory to sabotage nuclear power plants on the Japan Sea".
But the harsh oratory was not accompanied by any sign of movement or buildup of North Korean units above the demilitarized zone between the two Koreas.
A South Korean counterattack would target not just the North Korean units involved in any future military action but command posts as far away as the North Korean capital.
Chinese forces had carried out an attack against elements of the United States Army's Second Infantry Division and South Korean units that resulted in more than 11,000 casualties, according to an Army history.
"Two North Korean units are there, which are Chalma-1 and Chalma-7," Asaad az-Zoubi, head of the High Negotiations Committee HNCC) to Syrian peace talks in the Swiss city, reportedly told Tass news agency on Tuesday.
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