Financial Supervisory Service(FSS) Chairman Lee Bok-hyun said on Tuesday that the holding company of Taeyoung Group might be able to postpone debt repayments.

After meeting with the heads of seven major financial holding firms, the FSS chief said creditors like the Korea Development Bank(KDB) seem to agree with a deferment, but added that the group needed to show more resolve to rescue itself before restructuring can begin.

The top financial regulator also noted that the government will help mediate complex interests should a debt workout program be launched.

The KDB and around 400 other creditors are set to make a decision on the workout plan on Thursday, with approval requiring agreement from at least 75 percent of creditors.