The long-awaited plan to sell Hyundai financial units to foreign investors is near conclusion.
The chairman of the Financial Supervisory Commission said the A-I-G-Hyundai deal will be concluded within 10 days at the latest.
Analysts said the government, eager to keep the sinking economy afloat with a series of pump-priming measures, needs to clinch the deal to clear up uncertainty posed by its delay.
The A-I-G consortium signed an initial agreement last August to invest one point one trillion won or eight hundred-60 million dollars in Hyundai Securities and cash-strapped units Hyundai Investment Trust and Securities and Hyundai Investment Trust Management.
The investment would be enough to hand over management of Hyundai firms to the U.S.-based financial firm.
Talks on a final agreement have since faltered over AIG's demand for a government rescue before its investment.
But analysts say the government now appears to have agreed to clean up some of the financial mess at Hyundai financial firms as demanded by A-I-G.