November 26, 1991 |
In the second sale of a Southland hotel to Korean investors in less than a week, Seoul-based Koreana Hotel Co. has purchased the Hyatt Wilshire Hotel for about $25 million in cash, according to sources close to the deal. The purchase of the 396-room hotel from Hyatt Corp. came after Korean-born investor Charles Lee paid $18.1 million at an auction last Thursday for the 150-room Doubletree Resort in Cathedral City near Palm Springs.
July 31, 1988 |
A stately, red brick building stands behind a large courtyard in Seoul's posh Oksudong neighborhood, haunted with the secrets of an extraordinary man who juggled the public affairs of the Olympic Games with a clandestine job selling American war planes to South Korea. The building is the Safari Club, owned by the late Park Chong Kyu, former chief body guard to a dictator, shooting enthusiast and prime mover behind the Seoul Olympics.
September 13, 1998 |
There is nervousness in the halls of corporate Korea about a powerful name from Arkansas, and it isn't Bill Clinton. Here in the capital, books about Sam Walton, the late legendary salesman, are flying off the shelves. And his name--more specifically, his namesake Wal-Mart Stores Inc.--is being scrutinized, analyzed and criticized in newspapers on a daily basis. For Bentonville, Ark.
January 9, 1988 |
J. Higby's Inc. has signed a letter of intent with Jin-Tong Co. Ltd., a major South Korean trading company, for the licensing rights to open 250 J. Higby's Yogurt & Treat Shoppes over the next six years, with the first four outlets scheduled to open by July 31, prior to the Summer Olympics. According to Gary C. Nelson, president, Jin-Tong also plans to manufacture and distribute J.
July 3, 1989 |
In a move heralding an emerging South Korean role in overseas investment, Sammi Special Steel Corp. is about to become the first Korean firm to buy American factories. Moreover, $180 million of the $220-million deal will be financed by an international syndicate of banks led by a South Korean bank, a sign of South Korea's growing financial strength. South Korea, once deeply in debt, will enter the ranks of net creditors this year, Kim Kun, a Bank of Korea governor, said in a recent interview.
December 28, 1987
Many Korean-owned businesses have been started with money obtained through an informal banking network, called kye in Korean. It typically operates among 10 to 20 close friends and relatives who chip into a monthly pool. Each month's sum is lent to a different member, according to Eui-Young Yu, a professor of sociology at California State University, Los Angeles, who specializes in the local Korean community.