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To: DJBEINO who wrote (3923)	9/8/1998 11:18:00 PM
From: DJBEINO	Read Replies (1) \| Respond to of 9582

World Bank opposes subsidy conglomerates requested Sep 09, 1998 - The World Bank informed the Korean government that it would suspend a US$2 billion bailout payment to Korea if the Seoul government provides a subsidy to the nation's five business groups for restructuring, a high-ranking government official said Tuesday. He said that the World Bank would consider the financial arrangements requested by the chaebol groups as a subsidy, adding that the bank intends to halt the scheduled aid to Korea if the government accommodates the request. Relevant government offices, including the Ministry of Finance & Economy and the Ministry of Commerce, Industry & Energy, held an urgent meeting at the Blue House to discuss the matter and have decided not to provide any preferential financial aid to the conglomerates.