Hyundai hits the jackpot: clout of South Korean fund raises concerns
Article Abstract:
Hyundai Corp was able to collect about five trillion won or $4.18 billion from its Buy Korea Fund in just two months after it was launched in Mar 2, 1999. The investment fund is expected to reach 30 trillion to 60 trillion won in 1999 and 100 trillion won in three years. The company is funneling its new investment into local blue chip stocks and bonds, including some of its affiliates. The strategy is worrying analysts since it will give Hyundai affiliates great control over the stock-market.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1999
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Mass layoffs leave workers reluctant to go on strike: militant labor organization struggles to find support for series of walkouts
Article Abstract:
The Korean Confederation of Trade Unions is launching a nationwide series of strikes which would end in mass rallies on May 1, 1999. The union's primary objectives are to protest the market-oriented stance of Pres Kim Dae Jung and to ask for better unemployment benefits. However, majority of workers are not inclined to join the strikes for fear of losing their jobs. Even the larger union called Federation of Korean Trade Unions is not joining the nationwide movement.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1999
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Largest chaebols' pledge to restructure raises doubts: in some cases, Korea's leviathan business groups have grown, not slimmed down as promised
Article Abstract:
South Korea's largest business groups or chaebols have yet to fulfill their promises to restructure. One example is the deal between the LG Group and Hyundai to merge their memory-chip units, which has been bogged down by disputes over who will run the new operation. Analysts believe that most chaebols are reluctant to reform to maintain their status quo. Nonetheless, reform is considered possible if government pressure to do so continues.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1998
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