SEOUL — Daewoo Group's creditors accept a debt-restructuring plan that will reduce South Korea's troubled chaebol to its automotive arm, a division now seeking a partner in General Motors Corp. The effort to dismantle the conglomerate comes after Daewoo finds itself teetering on the brink of bankruptcy, carrying 57.3 trillion won (US$47.44 billion) in debt. The country's second-largest conglomerate plans to divest itself of all but six of 22 affiliates, retaining Daewoo Motor Co. Ltd.; ...
Premium Content (PAID Subscription Required)
"Restructuring to reduce Daewoo to automotive only" is part of the paid WardsAuto Premium content. You must log in with Premium credentials in order to access this article. Premium paid subscribers also gain access to:
All of WardsAuto's reliable, in-depth industry reporting and analysis
Hundreds of downloadable data tables including:
• Global sales and production data by country
• U.S. model-line inventory data
• Engine and equipment installation rates
• WardsAuto's North America Plant by Platform forecast
• Product Cycle chart
• Interrelationships among major OEMs
• Medium- and heavy-duty truck volumes
• Historical data and much more!
Current subscribers, please login or CLICK for support information.