Kang Stresses Both Sides" Concessions

Kang Bong Kyun, the president's economic aide at the Blue House(Chong Wa Dae), pinpointed mutual concessions by both labor and management as the keys to restructuring, on February 11.
Kang, speaking at the Hyatt Hotel, emphasized a change in attitude. 'The restructuring movement has brought some unintended friction, an offshoot from its original principle. Both sides must realize that in business deals they must share both the positives and the hardships that occur. Each group's leaders should actively participate in any deal.'
Kang commented on labor's demand for additional money as compensation for any business exchange, merger or acquistion, and stressed, 'Among the five major groups, the only thing to be changed is the name of the group so it would be improper to demand much money in compensation.'
He denied the government is planning further restructuring moves at this time, and he stessed the government's firm resolve to finish the top-five chaebol groups restructuring by the end of this year.