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Doosan Uses Global Crisis as Chance to Get Ahead

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  • Published Nov 30, 2008 8:37 pm KST
  • Updated Nov 30, 2008 8:37 pm KST

By Kim Yoo-chul

Staff Reporter

The global economy is struggling, with Korea Inc. not exempt from its effects.

Korean firms are doing what they can to keep afloat but Doosan Group is trying to get ahead of the pack.

The conglomerate, focused on heavy industry, has preemptively been engaged in boosting its liquidity even before the full brunt of the global economic meltdown came Korea's way.

After initial difficulty that in the summer months forced the group to pump $1 billion into units which last year borrowed heavily to take over companies of U.S.-based Ingersoll Rand, it appears to be standing on firmer ground.

"It is highly unlikely Doosan Group will