SAMSUNG: Samsung Group concludes agreement for improving financial structure.

0 Comments | M2 Presswire, December, 1998

M2 PRESSWIRE-21 December 1998-SAMSUNG: Samsung Group concludes agreement for improving financial structure (C)1994-98 M2 COMMUNICATIONS LTD RDATE:181298 * The Samsung Group has finalized its restructuring plans: - on the afternoon of December 17, Samsung concluded an agreement with Hanil Bank, Samsung's main creditor bank, on improving the group's financial structure.

* The Samsung Group will: - reduce its debt-to equity ratio to 184 during 1999 and bring that figure down to 100 by 2002. This ambitious plan will put Samsung on and equal footing with the world's most advanced corporations. - reduce intra-group cross debt payment guarantees to 600 billion won by the end of 1998 and eliminate them altogether in 1999. - reorganize under the main...