More Debt Will Be Written Off at Kia
Kia's debt write off will increase from the current 2.9 trillion won up to 4 trillion won, an affiliate close to the matter said.The affiliate said on September 25, ' The government thinks that there are many ways to dispose of Kia, for example a third round of bidding with the sale of assets and big deals between the automakers.'
He also said that the debts of Kia Motors and Asia Motors are 5.6 trillion won more than the companies' assets.
Accordingly, Kia's debt write off will be decided at about 4 trillion won, the affiliate commented.
with the Korea JoongAng Daily
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