Kia"s Creditors Want Additional Countermeasures

Although Hyundai Motors won the rights to take over the ailing Kia Motors, some of Kia's creditors are asking for additional countermeasures saying that Hyundai's request to write off 5 billion dollars of debt is unreasonable.
According to financial analysts, on October 20, some of Kia's creditors including insurance and finance companies, that make up the 30 creditor institutions holding Kia's debt, insist that if Hyundai's claim is accepted, they will suffer financially.
Hyundai has said that they can easily pay back the 1.2 billion dollars in debt within 7 years after the 3 year payment exemption expires. A source from an insurance company remarked, 'It is a hard, one-sided deal to accept but there will be huge blame and liability if Kia's problem stays in limbo, so we must, in the end, agree on the terms.'
Analysts feel it is more than feasible that Hyundai can absorb Kia Motors without serious financial damages caused by debt and become the world's top 10 motor company in terms of production.