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To: Chas who wrote (42490)	1/25/1999 9:57:00 PM
From: Chas	Respond to of 53903

LG Semicon Co. (2989 KS ) may fall after an LG spokesman said yesterday about 80 percent of LG's 7,500 workers resigned this week in protest of a planner merger with Hyundai Electronics Industries Co. (0066 KS ), leading to a shutdown of its plants, which makes about 7 percent of the world's computer memory chips. The stock fell 700 won to 11,000.

To: Chas who wrote (42490)	1/25/1999 10:05:00 PM
From: Chas	Read Replies (2) \| Respond to of 53903

KoreaTimes Trauma of 'Big Deal' Growing 01/25(¿ù) 17:56 The protracted ''big deals'' or swaps of business divisions among conglomerates or chaebol, are having serious adverse effects on Korean society. The situation has recently worsened, with repercussions rapidly spreading from workers on subject production lines in the areas of semiconductors, electronics and automobiles. Employees LG Semicon's Chongju plant stopped operation of six lines for 28 hours from 3:00 a.m. Jan. 24 while Daewoo Electronics workers also went on general strike from Jan. 22. Samsung Motors' production lines in Pusan have remained idle for 50 days, since the firm was turned over to Daewoo Motor in return for Daewoo's awarding of its electronics division to Samsung. Experts expect the strike at LG Semicon will lead to a 15 billion won drop in output. They say the merger of LG Semicon into Hyundai Electronics and Industry will also result in a $1.5 billion decline in exports. Some 6,000 LG employees at the Chongju plant have tendered their resignations in protest over the big deals. LG explained that foreign buyers have begun to avoid contact since the merger talks began. LG workers staged a massive demonstration on Sunday in Chongju, demanding that Hyundai guarantee their job stability. Daewoo Electronics' production lines have been quiet since Jan. 22. Meanwhile, company trade unions have requested that Daewoo Group demand that all of its subsidiaries hand over their Daewoo Electronics' stakes to the company. Daewoo Electronics is refusing to accept another appraisal ahead of the big deal unless this demand is met. In addition to the production line turmoil, the company has seen a steady decline in sales and an exodus of foreign buyers. Consumers of electronics home appliances have also begun to shun Daewoo products wary of a possible failure in ''after-service.'' ''We are closely monitoring the Daewoo Electronics situation,'' said an official of a Daewoo creditor bank. The Samsung Motors strike has had far-flung effects. Subsidiaries and cooperative companies have been especially vulnerable to the dispute. The conflict in this respect has been growing ever serious while worsening chronic regional antagonism. An increasing number of citizens of Pusan and Masan have been complaining about the deal by which Daewoo will acquire Samsung Motors, due mainly to the possible end to car production in Pusan. The number of Pusan lines and cooperative companies reaches a total of more than 70,000. Worse still, the opposition Grand National Party has apparently been exploiting the case and exacerbating regional sentiment, most recently by holding a massive rally in Masan on the weekend, in a bid to outmaneuver the ruling camp. A Samsung official complained, ''The discontinuation of the production of Samsung vehicles will lead to some 50,000 lost jobs and cause related companies to see output decreases of some 3.5 trillion won.''