Daewoo Motor production halted by supplier boycott

Newswire

SEOUL, Aug 28 (Reuters) - South Korea's third largest automaker Daewoo Motor Co said on Wednesday it had halted automobile production after running out of parts following a boycott by suppliers owed hundreds of millions of dollars. The 191 parts suppliers, seeking around 850 billion won ($714.3 million) in back pay, agreed at a meeting on Monday to halt supply. Daewoo has said it needed creditors' approval to make the payment, while the lenders were still in discussions over how much debt ...

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