Samsung/Daewoo Swap Stalled
The big business swap between Samsung and Daewoo is dragging due to their differing opinions on the final details.Daewoo Group announced, on December 16, principal positions on employment and maintenance of subcontractor companies. But Samsung Group said that no agreement was reached during the day.
A source at the Ministry of Industry and Energy stated that the two groups announced their respective positions and no consensus has been reached.
According to Daewoo's announcement, Daewoo will formulate a long term composite plan for Samsung's car factory in Pusan and will operate Daewoo Electronics, scheduled to be acquired by Samsung Electronics, as a separate company for the next five years.
Samsung Electronics will maintain all employees from Daewoo Electronics and continue to assist subcontractors for Daewoo Electronics, sources at Samsung Group explained.
with the Korea JoongAng Daily
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