Daewoo"s Plan for an Improved Financial Structure

Daewoo Corporation announced a plan for improving its financial structure on January 21. It plans to raise funds worth 1.5 trillion won through the sale of its stocks to overseas markets.
It will also introduce an additional 1.6 trillion won worth of foreign investment and sell some of its real estate holdings in Korea to raise a further 308 billion won.
Additionally, it plans to change 270 billion won worth of convertible bonds to stocks and divide its subsidiaries including distribution, film, and its architecture firm.
Daewoo will settle all debt guarantees worth 198.2 billion won this year. A source at Daewoo said, 'This is just the first improvement plan, so it does not include the full-range of foreign investment induction. Additional plans are being prepared.'
Last year, Daewoo raised 1.4 trillion won by selling its assets abroad and settled 3.6 trillion won worth of debt guarantees.