Samsung Plans Swap With Rival Daewoo

Samsung will swap its troubled car business for the debt-burdened electronics unit of rival Daewoo Motors as South Korea’s conglomerates announced moves to shed scores of their units. Seeking to kick-start its sputtering corporate restructuring campaign, the government also said the family-run conglomerates, or chaebol, plan to raise $58 billion from investors or by selling assets. Samsung is the country’s biggest electronics producer and the world’s largest producer of memory chips. Daewoo is South Korea’s second-largest auto maker. The Financial Supervisory Commission, the agency overseeing corporate restructuring, said the companies will finalize plans for the swap by Dec. 15.