Hanarotelecom accepts executive resignations

Hanarotelecom Inc., Korea’s No. 2 high-speed Internet provider, has accepted the resignations of nearly half its 55 executives who quit last week. The firm accepted the resignations of 25 of the executives who quit, the Seoul-based company said in an e-mail message yesterday. “The restructuring is a move to bolster the management of sales and service functions,” the firm said. The resignations come one month after former Chief Executive Yoon Chang-bun quit for what the company said were “personal reasons” at the time. American International Group Inc. and San Francisco-based Newbridge Capital Ltd., which bought 49 percent of the firm in 2003, may be preparing to sell Hanarotelecom, according to Hyundai Securities Co. analyst Lee Shi-hoon.