SEOUL: The board of SK Corp has approved a US$712mil plan to bail out ailing sister company SK Global Co, paving the way for a lifeline from creditors due to meet today.
SK Global, saddled with 6.7 trillion won (US$5.6bil) of debt, has been on the verge of insolvency since a US$1.2bil accounting fraud was unearthed in March.
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