Labor Leaders are Glad to See Hyundai’s Chief in Jail
Labor leaders in Korea are not disappointed to see Hyundai CEO, Chung Mong Koo, take a fall.
What union leaders ( I hate unions ) hope for is that this will give Hyundai Motors a chance
to make another leap forward because they will be out from under the ‘emperor-like’ rule of Chung.
Hyundai is the world’s number 7 auto-maker and Chung now owns 5.2% of it from jail. Though he owned
such a small portion he had near absolute control and was even said to be a micro manager to the
point of deciding what color the parts under the hood should be.
Now, investors and other stakeholders are hoping for ‘greater transparency and accountability.’
Transparency and accountability are good, very good.
In the meantime Hyundai has put on hold a $2.4 billion plan for new factories.
It is now very clear who will not get a job until Hyunday gets this fiasco cleaned up.
What do you think?
Tags: 4237, 4248POSTED IN: All about Korea, Doing Business in Korea
2 opinions for Labor Leaders are Glad to See Hyundai’s Chief in Jail
BrainBasedBusiness
Jun 7, 2006 at 3:41 pm
You can add new colors… textures and shapes to a blog simply by using your spatial intelligence to show your topic visually with a bit of flare…. Watch your spatially alert readers to jump onboard with your blog in ways…
Anonymous
Jun 8, 2006 at 10:53 pm
Koreans are developing a bad habit of imprisoning many of the most talented, productive and successful among them.. There is the obligatory allegation of crimminality or corruption which if examined in light of the common practices of businesmen or elected officials is questionalble.
Might one be forgiven for reminding the Socialists/Communist/N. Korean Sympathizers that their collective willingness to
Kill the Golden Goose will yeild but a short repast.
W
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