Industry minister urges Yeosu petrochemical complex to 'swiftly' draw up restructuring plans
Industry Minister Kim Jung-kwan on Wednesday called on petrochemical companies in the southwestern city of Yeosu to "swiftly" come up with voluntary restructuring plans, citing the yearend deadline for such plans that would make them entitled to government support aimed at tackling an industrywide crisis stemming from a global oversupply. The call came as Kim met with senior officials from petrochemical companies based in Yeosu, South Jeolla Province, according to the Ministry of Trade, Industry and Resources. In August, the government unveiled its three principles for helping the ailing petrochemical industry, giving local companies until the end of the year to devise "voluntary" business restructuring plans. The principles are "simultaneous" restructuring of three major petrochemical industrial complexes in Seosan, Ulsan and Yeosu, "sufficient" self-rescue efforts and preparation of a feasible business restructuring plan by companies, and the establishment of a "comprehensive" government support package. Since then, the petrochemical industry has vowed to work toward reducing the capacWeiter zum vollständigen Artikel bei Korea Times
Quelle: Korea Times