The Korea Herald reports that details of the debt-workout plans for Kumho Tire and Kumho Industrial, units of troubled Kumho Asiana Group, will probably be settled in February.

Creditors have selected PricewaterhouseCoopers Korea and Deloitte Anjin LLC to conduct due diligence on the plan, reports said. The accounting firms may take at least two months to complete their work, but creditors want to conclude the plan swiftly in order to normalize operations of the two companies.

Creditors and the two units will likely sign a memorandum of understanding for implementing final workout programs by the end of March, reports said.

"We have concluded that with a debt rescheduling program, the companies would be able to continue their businesses," an official from one of creditors told the newspaper.