Around the World's Markets: Seoul

Click to follow
The Independent Online
SOUTH KOREA's debt-ridden Daewoo Group said some of its affiliates might not be able to pay the interest on loans from foreign creditors. Although the news came after the market closed, shares were badly hit and the Composite Stock Price Index closed at 905.52, down 32.36 points or 3.45 per cent.

Foreign investors sold major banks and other blue chip shares. Daewoo owes $5.1bn to foreign creditors, out of its total debt of $48.11bn.