SOUTH KOREA: Ssang Bang Wool Sold For KRW311bn
Underwear maker Ssang Bang Wool has been bought by a group of South Korean investors, led by Kookmin Bank, for about 310.5 billion won. The group includes Kumho Investment Bank, Sejong Securities Co and textile-maker Netishion.com. Ssang Bang Wool has been for sale since its bankruptcy in 1997. It has been under court receivership since 1999.