S. Korea to push for resolution of Daewoo restructuring

South Korea's trade and energy minister announced a plan yesterday to restructure and modernize Daewoo's foreign car production units, including the Korean concern's largest investments located in Poland. Though the minister's spokeswoman, Janet Lee, confirmed that Daewoo would take action to either sell, modernize or close down its international holdings in the near future, Krystyna Danilczyk of Daewoo-FSO's press office in Warsaw said none of the Polish subsidiaries would be sold. She did add however that if domestic car sales continue to drop, a temporary suspension of production at the Warsaw-based plant could happen as early as February. Daewoo-FSO management has said that job cuts will play a key role in restructuring its operations, pointing out that as many as 1,300 to 2,000 employees might be forced to part with their current positions throughout the Daewoo-FSO group. According to unofficial sources, next week a government delegation headed by Economy Minister Janusz Steinhoff will visit South Korea to discuss possible terms of selling Daewoo's Polish holdings. (Rzeczpospolita, B2; Gazeta Wyborcza, p. 21) M.T.