Daewoo's $73-bn debt

Mr P.A. Van Heusden pvanheus at hgmp.mrc.ac.uk
Fri Nov 5 07:29:33 PST 1999


The Financial Times today (or maybe yesterdays - forgot to check the date) reports that Daewoo is $73-bn in debt. It seems that the South Korean government is going to intervene to cover these debts. Daewoo will be 'restructured', probably with substantial foreign intervention (foreign lenders have refused to reschedule their share - $7.7bn - of debt).

Any comments? What's up with the South Korean 'bounce-back'? What are the social implications of this massive government bail out of the bosses going to be?

Peter -- Peter van Heusden : pvanheus at hgmp.mrc.ac.uk : PGP key available Criticism has torn up the imaginary flowers from the chain not so that man shall wear the unadorned, bleak chain but so that he will shake off the chain and pluck the living flower. - Karl Marx

NOTE: I do not speak for the HGMP or the MRC.



More information about the lbo-talk mailing list