Pres. Kim Steps Into Big Deal

The 'big deal' between Samsung Motors and Daewoo Electronics is expected to soon be concluded due to urgent conferences held by President Kim Dae Jung in which Kim Woo Jung, president of Daewoo and Lee Geun Hee, president of Samsung Business Group, attended, separately.
Kim Woo Jung visited Chung Wae Dae on January 23 and discussed the ongoing situation of the business swap. He also proposed the government to provide a support program for the deal.
On January 22, Lee Geun Hee met the president and revealed his stance that he would make every effort for the deal's success.
Park Jie Won, a Chung Wa Dae spokesperson, said, 'The president emphasized that Koreans were uneasy because of the delay in the big deal between the two chaebols, and he urged a quick conclusion to settle down the uneasiness.'
Two chaebol owners are expected to meet for a final fine-tuning of the big deal. The two sides did not agree on several areas including maintaining Samsung car production, and employment retention.