Daewoo Motor suppliers say reject creditors' offer

Newswire

SEOUL, Aug 30 (Reuters) - Parts suppliers to Daewoo Motor said on Friday they had rejected an offer from creditors of South Korea's third-largest automaker aimed at ending a supply boycott over $700 million of back payments. Daewoo Motor Co was shut for a third day on Friday as major parts makers suspended supplies over the unpaid bills. "We decided to meet again on September 4 to discuss a new offer from creditors," said Um Ki-hwa, chairman of the suppliers' meeting and president of ...

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