"Additional support is not" overturn the restructuring chaekimron

[South Korea's Choice Financial News Reporter] As the new funds 2.9 trillion won a close aid package announced seven trillion won, including the DSME restructuring is increasing equity and intellectual chaekimron.

4.2 trillion won to support the scale only 1 years 5 months jeonyida had been accomplished on the basis of expected new orders. Last October 2015 presidential west wing government took a year at the time of the meeting of Daewoo Shipbuilding orders forecast 2016 to $ 11.5 billion, but the actual Daewoo Shipbuilding orders was only 1.54 billion months more than 1 million of government estimates some 10 minutes. "There is no longer put taxpayer money, government and creditors failed to order forecast to add this support was the count broke the existing principles.

New money the government committed to save the DSME amounted to 2.9 trillion won. National banks, put the premise that banks and corporate creditors 2 1 trillion loan 9000 debt-for-equity swap that turns a billion to the debt restructuring stocks, such as high strength should be followed. When including new funding and debt-for-equity swap is all count goes further support of the 6.7 trillion won in size.

Additional support measures announced in the day, the government and the creditors acknowledged that "As a government and as a result, creditors did not adequately predict the long-term slump in the shipbuilding market was lacking judge did not respond to the risks of Daewoo Shipbuilding and conservative."

Main creditor banks of Daewoo Shipbuilding is no less critical for the bank industry. Auditors concluded that the bar is the treatment of last June, the ailing Daewoo Shipbuilding and soholhan management and supervision of the Bank for the shipbuilding industry executives mismanagement collaboration.

With the court decision (regeneration process) for the prior Hanjin Shipping adds support for Sudan raised Daewoo Shipbuilding also "too big to fail 'debate and equity side of the problem.

In particular, the day the government and creditors also emerging doubts about the bankrupt Daewoo Shipbuilding and national economic losses when presented with new statistics supporting evidence. According announced in Daewoo Shipbuilding economy expected maximum loss during bankruptcy immediate damage, including input costs, such as for ship construction in 2016 of the criteria, considering the future to avoid large-scale unemployment amounted to a total of 59 trillion won.

In addition to the above choeunyeol imjongryong Financial Policy Committee Chairman attended the Plenary Assembly Democrats have also proposed that "Congress shall jeonghaeseo led by the accounting firm should assess the liquidation value and existence value of Daewoo Shipbuilding again.

Shipbuilding is also less problematic situations that are raised for the restructuring and reorganization of industrial structure adjustment ability of government need high key industries including the shipping industry. The government last June, a new control tower was' Industrial Competitiveness Ministers relations "and proceeds to point out that the absence of 11 meetings with the Minister of Strategy and Finance chaired by Deputy Prime Minister cum yuilho day.

The government and creditors' Daewoo Shipbuilding national banks, commercial banks, corporate / CP holders Meanwhile, individual companies treated as commitment processed in principle how a legally enforceable unless voluntarily agreed to a debt restructuring for the loss of share in the announcement principles and its procedures and there is no difference in the basic framework 'said' how, however, treat people the economic impact on the shipbuilding bankruptcy process losses expanded possibilities of creditors, consideration of the impact, including on the shipbuilding industry principles (court) quickly and he said regeneration will be promoted by pre-planning system (P-plan) system of corporate rehabilitation with a focus on corporate rehabilitation.

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