Government May Ease up On Some Restructuring Regulations

The government will admit quite a few of the demands which big business groups are seeking in their current restructuring. However, the administration is delaying final decisions on what they deem acceptable because the 'chaebols' want to unite all restructuring regulations under one special rule.
Lee Kyu Sung, the Minister of Finance and Economy said on October 21, 'The formation of a special regulation on restructuring is still up in the air since there are lots of things remaining to be considered.'
Out of the many business groups' requests, the government will positively examine the way to transfer a portion of the heavy bank loans businesses are drowning under to government debt.
In addition to that, in terms of construction and service industries, they will not have to achieve the 200% debt to equity ratio, uniformly.
The Ministry of Justice is opposed to the creation of a special law saying that 'Temporary law-making itself could cause more confusion in the current law structure.'