Hyundai Heavy Commissioned To Run Halla

Monday, August 30, 1999

Hyundai Heavy Industries Co. will reportedly be commissioned to run the bankrupt shipbuilding firm Halla Engineering and Heavy Industries, which filed for court receivership in December 1997 due to severe debt troubles. A spokesperson said Hyundai would have 30 percent of Halla's recurring profits in return for the commissioned management.

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