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S.Korea Daewoo Motor suppliers to halt parts supply

SEOUL, Aug 26 (Reuters) - Suppliers to South Korea's Daewoo Motor Co, seeking over one trillion won ($833.3 million) in overdue payments, said on Monday they planned to halt automotive parts supply beginning on Thursday.

The 191 parts suppliers to South Korea's third-largest automaker reached the decision at a meeting on Monday, Cho Hang-kyun, a representative of the suppliers, told Reuters.

In April, General Motors Corp , the world's largest automaker agreed to invest $251 million in a joint venture with Daewoo's creditors, which aims to revive key assets of the South Korean automaker.

GM also agreed to provide up to $250 million in support payments to Daewoo's parts suppliers.

But with payment delayed in recent weeks, many parts suppliers have complained of worsening financial conditions.

($1=1200.0 won)