Shinmoorim Paper Mfg Co Ltd agreed in principle with the International Finance Corp and two other foreign organisations on a combined $90 million fund injection, a company spokesman said on Wednesday. The South Korean paper manufacturer is expected to complete the agreement on October 20 with three organisations -- two from the United States and one from the Netherlands -- for the deal.

The IFC, an affiliate of the World Bank, will provide $50 million to the South Korean firm with a loan and purchase of equity and convertible bonds. The IFC would acquire about a 20 per cent stake in the company. The remaining $40 million will be supplied by the Emerging Market Partnership, a US-based investment fund, and FMO, an investment body controlled by the Dutch government.

Japanese firm combines computer, refrigerator:

V-Sync has developed a refrigerator smart enough to keep track of what's inside, store recipes and make your grocery list. The company unveiledits ``internet refrigerator'' at the opening of the PC World Expo in Makuhari, East of Tokyo, on Tuesday.

With a speedy Pentium II microprocessor and huge hard drive, it packs more computing power than most home PCs, and has separate compartments for fruits and vegetables. V-Sync, recommends using it as the command centre of a wired home by hooking it up to similarly equipped household appliances such as a telephone, air conditioner or television. More than 600 computer-related companies are displaying products at the annual computer expo, which runs through Saturday.

Viag Interkom cuts mobile phone rate:

Viag Interkom GmbH said on Wednesday that its mobile phone network would offer a round-the-clock price of 29 pfennigs per minute in eight German metropolitan areas. The company, a venture of Viag AG and British Telecom Plc, had previously said its mobile network would start up on October 1 with a daytime rate of 99 pfennigs per minute. ``In the German telecommunications industry we want to takeover cost leadership," said Peter-M. Briese, chief executive of VIAG Interkom. "Long term, we have taken it upon ourselves to become one of the three largest telecommunications groups in Germany," he added.

Hoechst declines to comment on KKR sale:

German chemical group Hoechst AG on Wednesday declined to comment on a report US firm Kohlberg Kravis Roberts & Co (KKR) could pay less than the negotiated three billion marks for Hoechst's paint business. A Hoechst spokesman told Reuters that negotiations on the sale of paint unit Herberts to KKR were continuing.

The Wall Street Journal cited sources familiar with the dealas saying KKR was renegotiating the terms of its planned purchase of Hoechst's Herberts paint unit. "We cannot comment on potential problems that KKR might be having. From our point of view negotiations are going on despite world developments," a Hoechst spokesman said.

NKK says to cut 2,000 jobs by end-March 2000:

NKK Corp said it would cut its work force by 2,000 byend-March 2000 through early retirement, seconding workers to affiliates and curbing new recruitment. Its total employees will be 13,300 as of end-March 2000 compared with the present 15,300, it said.

The major steelmaker said it aims to reduce its fixed costs by an annual 15 billion to 20 billion yen from the year starting in April 2000 through measures including job cuts. Executives' salaries will be cut by 10-20 per cent from the present 3-7 per cent. It plans to reduce winter bonuses for managers by six to 12 per cent from summer bonuses.

Linde to supply hydrogen to Wacker:

German engineering group Linde AG said on Thursday it will supply Bavarian company Wacker-Chemie GmbH with bulk amounts of hydrogen via pipeline. Linde will invest 31 million marks ($18.63 million) in the construction of a production plant for this purpose. The two firms recently signed a long-term supply contract and Linde already supplies Wacker-Chemie with evaporated high-purity hydrogen from liquid tanks for theproduction of ultra-thin silicon crystal layers.