Jinro ltd, the South Korean spirits producer is looking to help pay off maturing debt by raising one trillion won (US$800m) from foreign investors.

The company has said it has had talks with "more than two foreign investors". However the group refused to confirm who the potential investors were and in what form the investment would take place, saying only that a deal would be struck in the next couple of months.

The company has debts of 1.7 trillion won. It had been granted a five-year freeze on payment of debt principle, and should start repaying the loans from this year.

In 2000 it sold it profitable whisky division to Allied Domecq for 140 billion won.