Creditors likely to roll over debts of Kumho Asiana units

SEOUL, Jan. 4 (Yonhap) -- Creditor banks of the financially troubled Kumho Asiana
Group are likely to roll over by one year debts of the group's two units that
mature this year, financial sources said Monday.
The creditors led by Korea Development Bank (KDB) will discuss the plan on debt
repayment by the two units, Korea Kumho Petrochemical Co. and Asiana Airlines
Inc., at a Tuesday meeting, the sources said.
Korea Kumho Petrochemical's debt is estimated at 2.19 trillion won (US$1.9
billion), while Asiana Airlines has an estimated 3.76 trillion in debt, they
said.
On Dec. 30, KDB and Kumho Asiana agreed to put the group's other two units --
Kumho Industrial Co. and Kumho Tire Co. -- under a debt rescheduling program to
help the group ease cash shortages.
The creditors, however, allowed Korea Kumho Petrochemical and Asiana Airlines
more time for debt repayment in return for their pledges to restructure
themselves.
ksnam@yna.co.kr
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