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Article: South Korea: More builders reach deals with creditors.
- Article from:
- TendersInfo
- Article date:
- April 18, 2009
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Byline: sanjayV03
Restructuring of local construction companies is gaining momentum, as an increasing number of them are reaching agreements with their creditor banks.
Industry officials said six out of the 11 construction companies selected for bank-led restructuring in January have recently signed or plan to sign soon memorandums of understanding with banks on their normalization plans. The remaining five are working on finalizing the plans.
The six companies are: Woolim Construction, Isu Engineering & Construction, World Construction, Shinil Engineering, Poonglim and Woolim Construction.
Poonglim, which is scheduled to sign an MOU ...