True, Daewoo was not enthusiastic about restructuring until recently. Now it is being forced to reform and restructure. Daewoo has a lot of assets it can sell like shipbuilding, securities and manufacturing of telecommunications equipment. It also needs to reorganize and refocus. But really, once the restructuring is underway, it will be very positive for Korea and would send the right signal across Asia.
Some analysts say Asia's economic recovery is far too slow.
Don't be surprised if this is revised upward again. Singapore's indicators are at 13-year highs, so growth forecasts there may rise too. All the Cassandras of the world are being proved wrong. Nobody expected Asian banks and companies to restructure in one year. Don't forget the U.S. has been restructuring its corporate sector for 18 years.