Hyundai Heavy-Daewoo Shipbuilding Failed to Sell ‘Government Responsibility’ Grows

As the Hyundai Heavy Industries Group’s merger with Daewoo Shipbuilding & Marine Engineering failed, the government and the Korea Development Bank were on the rise. Labor unions demanded the resignation of Korea Development Bank Chairman Lee Dong-geol and made clear their opposition to the private resale. The National Countermeasures Committee against the sale of Daewoo Shipbuilding with the chaebol preferential treatment, the Solidarity for Participation, and the Minbyun People’s Livelihood Economic Committee held a press conference in front of the Blue House Sarangchae on the morning of the 17th. “The vicious cycle of public funds injection, restructuring, and preferential sale must now be broken,” he argued. The National Countermeasures Committee is composed of labor, civic, and political organizations such as the Federation of Korean Trade Unions, the Daewoo Shipbuilding & Metalworks Union branch, the Hyundai Heavy Industries union branch, and the Social Transformation Workers’ Party.

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