November 21, 1985
The Thousand Oaks-based maker of personal computers, printers and related products said it received more than $20 million from Daewoo Group, a Korean conglomerate that manufactures some of Corona's equipment. Corona, which has long sought new financing, did not disclose how much of a stake it sold to Daewoo. Corona also said it will change its name in January to Cordata to help overcome its image as an IBM "PC clone" manufacturer.
January 22, 2000 |
South Korea's financial regulator said today that Daewoo Group and foreign creditors have reached a debt restructuring agreement. Daewoo Group's local creditors agreed to buy the company's debt to foreign banks in a move aimed at saving the South Korean conglomerate from bankruptcy. "Foreign creditors agreed to accept 39% to 40% of collection rate of their debts to four Daewoo affiliates," said a spokeswoman at the Financial Supervisory Commission.
December 30, 1995 |
South Korean state prosecutors probing former President Roh Tae Woo's slush fund indicted Daewoo Group's chairman and a former aide to Roh on charges of bribery, state television said. Daewoo Chairman Kim Woo Choong was charged with giving $64,680 to Kim Chong Hwi, Roh's former chief secretary for security and foreign affairs, in exchange for favors in connection with the government's arms buildup. Kim Chong Hwi was charged with receiving a total of $168,180 in 1992 from Daewoo and a U.S.
July 26, 1999 |
South Korea on Sunday announced a list of steps to restore lost confidence in its financial markets, shattered by the uncertain future of beleaguered Daewoo Group, which last week revealed that it was on the verge of bankruptcy. The government package included plans to maintain a low interest rate policy, inject fresh funds into financial institutions that face a liquidity crunch and speed up sales of Daewoo's assets.
February 19, 1987 |
Hyo-Bin Im, an executive with the South Korean conglomerate Daewoo, was named chief executive of Cordata Technologies, a Thousand Oaks maker of IBM-compatible personal computers. The move, industry analysts said, is a further sign that Daewoo is taking control of Cordata's operations. Daewoo has been majority shareholder in the private company since late 1985. Im, 44, had been executive managing director of the planning and coordination division of Daewoo Group in Seoul.
January 9, 1996
A Superior Court judge refused to throw out a $13.6-million jury verdict that former piano distributor Vernon Schafer Jr. won three months ago from the U.S. affiliate of giant Daewoo Group. Judge Mason L. Fenton, who presided over the trial in Westminster, denied motions by Daewoo International (America) Corp. to order a new trial or render a judgment in its favor.