Bankrupt Daewoo Motor has forecast its largest plant would post an operating profit for the second consecutive month in August.
A company spokesman said Daewoo's main plant in Pupyong west of Seoul ... is expected to record profits this month unless there's a steep decline in car sales during the final days of this month. He cited restructuring efforts as primary reasons.
The company was saddled with more than 22 trillion won or 15 billion dollars in liabilities as of the end of last year.
The plant is one of 16 worldwide that creditors are trying to sell to General Motors of the United States and its partner Fiat.
The fate of the 29-year-old plant has been a major sticking point in talks between creditors and G-M.
G-M reportedly wants to exclude the aging plant from any purchase deal. But creditors and the government said it will look into other options if G-M refuses to include the Pupyong plant in a package deal.