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July 6, 2009

Daewoo Logistics Files for Bankruptcy

South Korea’s shipping and logistics company Daewoo Logistics has filed for receivership at the Seoul District Court. The filing came after POSCO failed to acquire the company. The company is struggling with losses due to the impact of the global economic crisis and

By cms admin

South Korea’s shipping and logistics company Daewoo Logistics has filed for receivership at the Seoul District Court.

The filing came after POSCO failed to acquire the company.

The company is struggling with losses due to the impact of the global economic crisis and declining freight rates.

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