Kim Reiterates His Policies On Conglomerate Reforms

President Kim Dae-jung said Tuesday that his policy of reforming business conglomerates has been welcomed by the international community and that he began such reforms three years ago with the Korean business community's agreement.

Reacting to reports that his chaebol reform policies have triggered a heated debate in the business community, Mr. Kim said the four reform agendas - corporate, financial, labor and public sector - which he has pursued since his inauguration must be continued to their conclusion.

"While it may be too early to tell whether the economy has yet hit bottom, there are signs that the outlook is improving," said Mr. Kim. "Reforms that have been pursued thus far should continue with renewed resolve."

Mr. Kim also said cooperation between business and government is aimed at promoting the development of both conglomerates and small and medium businesses and that it would not be in anyone's interest if conglomerates prospered while smaller businesses fell behind.

A Blue House official explained that Mr. Kim's remark was intended to show his firm resolve to continue on his present path of reforming the conglomerates and to reiterate his campaign pledge to enhance transparency in the way Korea's major conglomerates are managed.

by Kim Jin-kook