Creditors put Daewoo International up for sale

SEOUL, Jan. 29 (Yonhap) -- Creditors of Daewoo International Corp., a South
Korean trading company, said Friday that they will sell a controlling stake in
the trading company via auction.
The state-run Korea Asset Management Corp. (KAMCO), the trader's biggest
shareholder announced that the creditors will cede a 50 percent stake plus one
share in the trading company to a new owner through open bidding.
KAMCO holds a 35.5 percent stake in Daewoo International, while other creditors,
including the Export-Import Bank of Korea and Korea Finance Corp., own a 23.7
percent interest in the trading company.
KAMCO plans to pick a prime bidder for Daewoo International within the first half
of this year.
ksnam@yna.co.kr
(END)