The president of Korea Delphi Automotive System Corp, Bae Gil-hoon, resigned late Friday and the supply boycott over monies owed continues according to media reports.
The reason for Bae’s resignation is unclear, but there is speculation that frustration over the stalled talks between Daewoo Motor’s creditors and its biggest single supplier is a factor.
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Other parts suppliers agreed to end their boycott last week, but analysts say that they remain in disagreement with DM’s creditors over payments.
Discussions between Delphi Korea and DM’s creditors are said to be continuing.
Daewoo Motor’s car production lines have been idle since August 28 as Korea Delphi and 191 other suppliers have demanded settlement of overdue payments.
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