Daewoo International 2009 net up 42 pct

SEOUL, Feb. 4 (Yonhap) -- Daewoo International Corp., a South Korean trading
company, said Thursday that its earnings increased 42 percent last year on brisk
overseas sales.
Net income reached 125 billion won (US$108 million) last year, compared with a
profit of 88 billion won a year earlier, the company said.
Sales increased 0.9 percent to a record 11.15 trillion won, while operating
income also climbed 9.6 percent to a record 171 billion won, it said.
Shares of Daewoo International were trading at 35,800 won on the Seoul bourse as
of 2:08 p.m., up 1.13 percent.
Creditors of Daewoo International, led by the state-run Korea Asset Management
Corp., are seeking to sell at least 50 percent and one share in Daewoo
International.
POSCO, South Korea's leading steelmaker, picked advisers last month to prepare a
bid for Daewoo International, which is expanding into energy development and is
leading a gas project in Myanmar.
The creditors are planning to complete the stake sale before June this year.
sam@yna.co.kr
(END)