Emerging from a storm?
Article Abstract:
Kookmin Bank and Shinhan Bank are said to have a good chance of coming out intact from the shakeup of South Korea's banking industry. Bad news abounds at present in the country's financial sector with the announcement of a plan to combine healthy institutions with troubled banks. Kookmin and Shinhan will each assimilate a troubled bank, a move that will likely result in taking in potentially bad loans along with additional staff and branches. However, a number of analysts said that the two banks possess firm long-term appeals, including low bad-loan portfolios and sound management. These factors will enable the two banks to emerge undamaged from a the current shakeout in the financial sector of South Korea.
Comment:
S Korea: Kookmin Bank & Shinhan Bank are said to have a good chance of coming out intact from shakeup of banking industry
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1998
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Hyundai pact limits layoffs
Article Abstract:
Hyundai Motor Co., the leading auto manufacturer in South Korea, has forged an agreement with its unionized workers to lay off only 277 employees or one-fifth of the total it originally proposed to cut. The deal calls for workers that should have been laid off to have 18 months of unpaid leave and a six-month job training. The company, in April 1998, has proposed to reduce approximately 20% of its 46,000 labor force to cope with the country's declining car sales that dropped by 30% in the first six months of 1998.
Comment:
Has forged a deal with its unionized workers to lay off only 277 employees or 1/5 of the total it originally proposed to cut
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1998
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Strikes at Hyundai Motor threaten recovery of economy
Article Abstract:
Hyundai Motor Co. of South Korea faces labor problems that may jeopardized the economic recovery of South Korea. Hyundai Motor suffers from strikes being staged by its unionized employees, who are staging protests against the firm's implementation of job cuts for 1,566 employees, as car sales drop due to the financial crisis of the Asian region. The unionized workers accuse Hyundai Motor's executives of utilizing the financial crisis in Asia as a reason to crack down its workers' union.
Comment:
Faces labor problems that may jeopardized the economic recovery of S Korea
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1998
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