Chong Wa Dae Criticizes Chaebols" Restructuring
Chong Wa Dae ( the Blue House)'s chief secretaries are criticizing the current restructuring efforts of the five biggest chaebols.Kang Bong Kyun, the economic secretary for President Kim Dae Jung, said in a morning meeting on October 21, ' the so called 'Big Deals' are not all the restructuring to be done by the big companies. The government will push to the end the chaebols' restructurings.'
He added, ' The problem is with the five biggest chaebols. Chaebols should realize that they cannot survive without complete restructuring.'
Meanwhile, Kim Tae Dong, policy secretary for President Kim, also pointed out, ' The restructuring moves by the big five are not enough. Chaebols should change for their own sake,too.If chaebols don't change now,the cruel free market economic forces in international markets will punish them later.'
with the Korea JoongAng Daily
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