Lee Dong-gull, new governor of the state-run Korea Development Bank (KDB), however, told reporters that it was too early to predict KumhoTire’s fate for sure, as creditors are reviewing the company’s self-rescue plan. (Image: Yonhap)
SEOUL, Sept. 20 (Korea Bizwire) - Kumho Tire Co. could survive if stakeholders of the beleaguered tiremaker agree to share the pain, the new head of the tiremaker’s top creditor bank said Wednesday, voicing an upbeat note about the tiremaker going forward.
Lee Dong-gull, new governor of the state-run Korea Development Bank (KDB), however, told reporters that it was too early to predict KumhoTire’s fate for sure, as creditors are reviewing the company’s self-rescue plan.
The stakeholders included Kumho Tire’s shareholders, its employees and its creditors, Lee said.
The KDB chief said creditors will likely make a decision next week on whether to accept the self-rescue plan.
(Yonhap)
