Doosan Submits Self-Rescue Plan to Creditors... "Prepared with a Bone-Cutting Attitude"

On the 27th, the Doosan Tower building in Dongdaemun-gu, Seoul, is visible as the government decided to inject 1.6 trillion won into Doosan Heavy Industries, which is facing financial difficulties, through the Korea Development Bank and the Export-Import Bank of Korea. Photo by Kang Jin-hyung aymsdream@

[Asia Economy Reporter Ki-min Lee] Doosan, which receives 1 trillion won in support from the state-run Korea Development Bank and Export-Import Bank, has submitted a self-rescue plan.

Doosan announced on the 13th that it has delivered a financial structure improvement plan for Doosan Heavy Industries & Construction to its creditors.

Doosan stated, “Doosan Group and major shareholders have prepared the financial structure improvement plan with a resolute attitude to fulfill responsible management,” and explained, “Doosan Heavy Industries & Construction is also reviewing all assets that can be sold or securitized for business normalization and rapid financial structure improvement.”

They added, “We will focus all our capabilities on normalizing the management of Doosan Heavy Industries & Construction through faithful implementation of this plan.”

Doosan also explained, “The financial structure improvement plan submitted to the creditors today will be finalized after consultations with the creditors and board resolutions,” and said, “All affiliates and employees of Doosan Group will do their best to faithfully implement the finalized plan to achieve the goals early.”

This content was produced with the assistance of AI translation services.