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DAEWOO CONSTRUCTION PAYS OFF PART OF DEBTS EARLY.

AsiaPulse News

| July 01, 2004 | COPYRIGHT 2004 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

SEOUL, July 1 Asia Pulse - Daewoo Engineering & Construction Co. (KSE:047040), South Korea's second-largest builder by capacity, said Thursday it has paid off part of its debts earlier than scheduled, helped by robust sales in recent quarters.

The construction company said in a disclosure that it paid off 165.6 billion won (US$144 million) of its debts to eight creditors, including the Korea Asset Management Corp., on Wednesday.

The early debt repayment will help its debt ratio decline about 7 percentage points to ...

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