"To regain market confidence in its construction unit,Hyundai should make efforts at the group level," financial supervisory commission (FSC) chairman Lee Keun-young told local creditor banks at a meeting.

"When creditors plan a debt rescheduling, including debt-for-equity swaps, for ailing firms, they must get agreement on management takeover," he added.Lee met 11 bank heads to discuss follow-up measures to the announcement of 29 non-viable firms on Friday.