Status of Big Five Chaebol"s Restructuring

The government and the big five chaebols agreed on one basic rule: that chaebols will focus on restructuring the groups' 2~4 main industries.
Accordingly, other subsidiaries will have to separate from the chaebols by the selling of their assets possibly through a merger or acquisition but the companies must be completely independent of the chaebols .
The number of the big five chaebols' companies will be diminished by roughly 50%.
The big five will choose the companies that will undergo 'work-out' programs to improve their financial state by December 15.
The chaebols will also decide on the amount the owners of the big five will invest of their personal assets into their companies by the 15th.
The big five and the government are now in the final phase of consultations. The government wants to announce the details on December 7 after President Kim Dae Jung presides over a meeting for the big five's restructuring.
The business sector is now predicting that after the announcement, other subsidiaries excluding main companies of the big five will be liquidated. A source from the business sector stated, 'The government and creditor banks will apply pressure on the other subsidiaries excluding the main companies by suspending loans.'