Daewoo Trading Resumes

Shares of three Daewoo companies that have been suspended by the Korea Stock Exchange will resume trading Friday.

The Korea Stock Exchange said Wednesday that it would allow trading in Daewoo Corporation and two companies that were spun off from it, Daewoo Engineering & Construction Co. and Daewoo International. The decision came after U.S. creditors of the companies dropped a case in the Seoul District Court to nullify the division of the corporation.

But the exchange said Daewoo Corporation's status as a going concern is doubtful, as it essentially exists only on paper following the spin-offs. The exchange, which will conduct a review of the firm's financial statements for 2000 to determine its status, warned investors that a negative decision could cause a delisting of the stock.