S. Korea's Daewoo Motor declared bankrupt

S. Korea's Daewoo Motor declared bankrupt

SEOUL, South Korea - Korea Development Bank Governor Uhm Rak Yong speaks at a news conference in Seoul on Nov. 8 after the bank decided to declare Daewoo Motor Co. bankrupt. Uhm said the Daewoo management will decide on whether the firm will apply for court receivership, which will install trustees. Daewoo failed to repay 88.7 billion won (about $78 million) in debts by the close of business on Nov. 7, including 44.5 billion won it had failed to repay the previous day.

  • Product Code
  • ILEA000006540
  • Registered date
  • 2000/11/08 00:00:00
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  • Kyodo / Kyodo News Images
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  • 72 dpi
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  • 141.10(KB)*
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