Global consulting corporations A&M said on the 22nd that it has established a Korea restructuring institutional sector. It is the first time in 12 years since entering the Korean market.
A&M said the newly created institutional sector will provide corporations operations improvement, financial restructuring, and corporate finance advisory. The plan is to add restructuring capabilities to its existing consulting business to broaden its scope.
The newly established restructuring institutional sector will be led by Chief Executive Im Jeong-ju and Deputy Chief Executive Jeong Dae-hee. Im is regarded as an expert who handled corporations restructuring during more than 30 years at Korea Development Bank (KDB). Jeong has led numerous cross-border restructuring advisory engagements at A&M.
A&M is a consulting corporations founded in 1983 and has expanded into more than 40 countries worldwide, including Korea. It recently expanded its Korea team and now has about 100 consultants.
A&M said the creation of this institutional sector reflects changes in Korea's restructuring market environment. With interest rates rising and pressure for industrial restructuring continuing, corporations' financial burdens are growing.
In particular, demand for restructuring is increasing as financing conditions worsen for small and midsize corporations. In addition, with discussions underway to overhaul the system ahead of the sunset of the Corporate Restructuring Promotion Act, A&M expects demand for restructuring and advisory to grow.
With the launch of this organization, A&M plans to expand restructuring advisory in Korea while strengthening links with its Asia-Pacific operations. The company has expanded in countries including Japan and Australia and currently has more than 2,000 employees in the Asia-Pacific region.