Chosun Mookyak bankrupted and struggled to revive

Chosun Mooyak Co. defaulted 3,800 million won payable through 5 local banks, the Seoul, Hana, Shinhan, Hanmi and Pyongwha on Aug. 19 and declared a bankruptcy, but soon tried to revive by selling out the head office building located at Daebangdong and other measures.

All company employees gathered together at Ahnsan plant on Aug. 21 for an overall resolution campaign to revive the company, d...