Samsung Commercial Vehicle Applies for Bankruptcy

      November 24, 2000 14:33

      Samsung Commercial Vehicle applied for a bankruptcy and company asset preservation to the Daegu district court Friday. The Dagegu based Samsung's commercial car division said its debt has exceeded asset by W11.8 billion with the aggregated deficit of W450.2 billion eating up W440 billion of paid in capital.

      Total asset and total debt of the company as of October is estimated at W643.835 billion and W655,648 billion respectively.

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