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Technology Stocks : Micron Only Forum

MU 237.16

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Dec 5 3:59 PM EST

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To: Chas who wrote (42566)	1/29/1999 1:36:00 PM
From: J. P.	Read Replies (1) of 53903

Korean Government getting involved, pushing settlement: GOVT CALLS ON HYUNDAI, LG TO ADVANCE SEMICON RESTRUCTURING news.semiconductoronline.com SEOUL, Jan 29, 1999 (Asia Pulse via COMTEX)-- The Korean government Friday urged Hyundai and LG groups to resolve the problems involved in their business consolidation deal in the semiconductor sector. Commerce, Industry and Energy Minister Park Tae-young said that both Hyundai Electronics Industries Co. (KSE:00660) and LG Semicon (29890) are responsible for the long delay in their business consolidation deal for the semiconductor sector. Park expressed dismay during a meeting he had with Kim Young-hwan, president of Hyundai Electronics, and Kang Yoo-shik, the LG official responsible for restructuring affairs. Park called on them to resolve the sticking issues in the consolidation deal, including Hyundai's reluctance to ensure full employment guarantees for employees of LG Semicon after it takes control of the consolidated semiconductor entity. Under the business restructuring plan affecting the nation's top five groups, Hyundai and LG are required to complete the deal by the end of this month. Park's prodding is apparently intended to help quell rising labor unrest among employees of LG's semiconductor plants who resorted to collective action. (Yonhap)"

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