Judgment Day Not Far Off
Jin Nyum, deputy prime minister for the economy, said Thursday the government should decide this year whether to shut down small companies under court protection or debt reorganization."The government cannot provide endless support to those companies," Mr. Jin said at a meeting with financial managers at Lotte Hotel in Seoul. Through discussions with the court, the government will determine the firms to be shut down among the 470 companies with loans of less than 30 billion won ($23 million).
"In one to two months, the future of Daewoo Motor Company and Hyundai Investment Trust should also be determined," he said.
with the Korea JoongAng Daily
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