Creditors of Taihan Electric Wire Co., one of South Korea's largest electrical materials manufacturers, have agreed to take responsibility for potential future liabilities in a bid to speed up the sale of the company, industrial sources said Thursday.
The creditors, including Hana Bank, will take on Taihan Electric's potential debts, which have hampered the sales of the financially troubled company, with the aim of finalizing selling the company by January 2015, the sources said.