Mr. Dodsworth"s Painful Advice

John Dodsworth, general director of the IMF's Seoul branch, pointed out on October 9, ' The big chaebols' restructuring should be implemented not by the government's hegemony but on the companies' own initiative.'
Mr Dodsworth said, in a morning seminar organized by the Korea Employers Federation, ' Companies will survive in the future only through restructuring on the basis of a free market economy.'
He also emphasized that it is applaudible for the government to create the surroundings for so called 'big deals', but not reasonable to intervene in every details.
He added that it is misguided and against the original intentions of restructuring for the government to interfere with the directions of management.The government should focus their intervention on improving companies' over-capacity and liabilities structure.'