Last month, creditor banks agreed to keep the conglomerate afloat by rolling over short-term debt and providing new loans in return for a sweeping restructuring plan that will divest the conglomerate of all but six auto-related subsidiaries.That cast doubt on the rest of Daewoo'S 25 affiliates. Daewoo also was slow to sell off its assets and invite foreign investment, intensifying doubt over the entire conglomerate and making banks increasingly reluctant toprovide new loans. Cash strains caused daewo's key auto and electronics subsidiaries to have difficulty importing parts from foreign countries.

As a result, Daewoo Motor Co and Daewoo Electronics Co planned to cut down its operating hours next week barring quick improvements in cash flow, company officials said. Credit banks met today to discuss expanding financing for Daewoo's imports and experts as well as its debt repayments.

The three companies applying for court receivership had been officially spun off from Daewoo years ago, but they still were considered affiliates of Daewoo because they depended on the conglomerate for most of their business and financing.