SEOUL — South Korea's Hyundai and Daewoo Groups are initiating restructuring plans aimed at improving their overall financial standing in the face of increasing government pressure. Announcement of the plans follow a warning from Korean President Kim's Dae Jung that the country's banks will halt new lending and take management control of the chaebol (conglomerates), should they fail to fulfill their reform promises. The Daewoo Group is making plans to sell off the shipbuilding division ...
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