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Article: Step to Be Taken on Failed Hanbo, Daewoo Deals: Min Jin.
- Article from:
- Korea Times (Seoul, Korea)
- Article date:
- October 6, 2000
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Following the order by President Kim Dae-jung to hold accountable those who were attributed to the failure to close the deals on the sale of the insolvent Daewoo Motor and Hanbo Steel, the government is busy following up on it.
In a press conference yesterday, Minister of Finance and Economy Jin Nyum told reporters, ``Follow-up action will be taken this week.''
Jin, however, said that Ford Motor Co., a priority negotiator which pulled out its bid abruptly, was also to blame for the failure to sell Daewoo Motor.
As for Hanbo Steel, Jin said, ``We will not try to sell it in haste because it requires no additional operating funding, ...