LG Card

LG Card

LG Card Co., Ltd. (kse|032710) is Korea's biggest credit card and consumer credit provider. It has nearly 7 million active customers. LG Card has no relationship with LG Group since 2004 except for the same corporate identity.

Business

2002 overleverage

In late 2002 a consumer credit boom reversed itself to a bust with millions of consumers falling behind on their debt payments. LG Card narrowly escaped bankruptcy in January 2004 after a $4.5 billion bailout. On Dec 31, 2004 the company's former owner LG Group agreed to inject $960 million into the company after its creditors agreed to provide 500 billion won ($480 million) and cut the interest rates on LG Card’s existing debt by 2 percentage points from about 7.5 percent.

Creditors own 99.3 percent of LG Card after this year’s bailout.

In December 2004 LG Card owes 12.6 trillion won in loans and debt securities, including 6.6 trillion won in uncollateralised debt.

LG card is merged into Shinhan card company, in 2007.

ee also

* Shinhan Financial Group
* Economy of South Korea
* Korea Stock Exchange

External links

;Main
* [http://www.lgcard.co.kr LG Card Korean Homepage]
* [http://www.lgcard.com LG Card English Homepage] ;Articles
* [http://news.ft.com/cms/s/a6d00390-5add-11d9-aa6e-00000e2511c8.html FT.com / Industries / Financial services - LG Card receives $960m ...]


Wikimedia Foundation. 2010.

Игры ⚽ Нужно сделать НИР?

Look at other dictionaries:

  • Card-throwing — is the art of throwing standard playing cards. First popularized in the West among stage magicians, the art of throwing cards was called scaling . In 1997, a segment on MTV News:Unfiltered , featuring Jon W and the Fellas from Denver,… …   Wikipedia

  • Card advantage — (often abbreviated CA) is a term used in collectible card game strategy to indicate one player having access to more cards than another player.cite web | last = Knutson | first = Ted | title = Introduction to Card Advantage | publisher = Wizards… …   Wikipedia

  • Card marking — is the process of altering playing cards such that the suit, rank or both are only apparent to the person marking the cards (or potentially another conspirator), usually for the purpose of cheating at cards by card sharps. To be effective, the… …   Wikipedia

  • Card Sound Bridge — Card Sound Bridge, looking west towards the toll station Card Sound Bridge is a high rise toll causeway connecting southern Miami Dade County and northern Monroe County. It is one of only two ways that motorists can leave or enter the Florida… …   Wikipedia

  • Card check — (also called majority sign up) is a method for American employees to organize into a labor union in which a majority of employees in a bargaining unit sign authorization forms, or cards, stating they wish to be represented by the union. Since the …   Wikipedia

  • Card printer — Card printers, often also called plastic card printers, are electronic desktop printers with single card feeders which print and personalize plastic cards. In this respect they differ from, for example, label printers which have a continuous… …   Wikipedia

  • card — card1 [kärd] n. [ME carde < OFr carte < ML carta, card, paper < L charta, leaf of paper, tablet < Gr chartēs, layer of papyrus; prob. < Egypt] 1. a flat, stiff piece of thick paper or thin pasteboard, usually rectangular, as a) any …   English World dictionary

  • Card — (k[aum]rd), n. [F. carte, fr. L. charta paper, Gr. ? a leaf of paper. Cf. {Chart}.] 1. A piece of pasteboard, or thick paper, blank or prepared for various uses; as, a playing card; a visiting card; a card of invitation; pl. a game played with… …   The Collaborative International Dictionary of English

  • Card basket — Card Card (k[aum]rd), n. [F. carte, fr. L. charta paper, Gr. ? a leaf of paper. Cf. {Chart}.] 1. A piece of pasteboard, or thick paper, blank or prepared for various uses; as, a playing card; a visiting card; a card of invitation; pl. a game… …   The Collaborative International Dictionary of English

  • Card catalogue — Card Card (k[aum]rd), n. [F. carte, fr. L. charta paper, Gr. ? a leaf of paper. Cf. {Chart}.] 1. A piece of pasteboard, or thick paper, blank or prepared for various uses; as, a playing card; a visiting card; a card of invitation; pl. a game… …   The Collaborative International Dictionary of English

  • Card rack — Card Card (k[aum]rd), n. [F. carte, fr. L. charta paper, Gr. ? a leaf of paper. Cf. {Chart}.] 1. A piece of pasteboard, or thick paper, blank or prepared for various uses; as, a playing card; a visiting card; a card of invitation; pl. a game… …   The Collaborative International Dictionary of English

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”