S. Korea to revamp non-viable builders, shipbuilders

SEOUL, Dec. 23 (Yonhap) -- South Korea's financial watchdog said Tuesday it plans
to restructure non-viable builders and small-sized shipbuilders to prevent their
possible collapse from weighing on the local economy.

"Construction firms and smaller shipbuilders which have been hit the most by
financial turmoil and the slowing economy will be the first to be overhauled,"
the Financial Supervisory Service (FSS) said in a statement.
Creditor banks plan to assess the credit risks of those companies and will lead
the overall revamp process, the FSS added.
sooyeon@yna.co.kr
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