The Deputy Prime Minister Speaks

The deputy prime minister and minister of finance and economics, Jeon Yoonchul has announced that there’s no alternative plan other than selling Hynix Semi Conductor, and Micron is still willing to negotiate.

Minister Jeon appeared on a program of Maeil Economics TV channel, and explained so.

About the Hynix, he said, “There are some rumors about the matter, but Hynix is difficult to survive on its own and has to be disposed of soon. Micron is still willing to negotiate again if they have a chance.”

And about the state credit rating, the minister said, “It will be raised at the end of this month by Fitch and Standard & Poor’s will send a team to evaluate in Aug and we will discuss the matter with them.”

Fitch has begun to raise the rating of the national credit of Korea, and currently, it is being raised from BBB+ to A+.

About the Seoul Bank, minister Jeon said, “About 40 parties have shown their will to take over the bank, and the conclusion will be drawn by the end of July. We are considering a merge with a superior bank.”

About the Daehan Life, he said, “We are tuning the price with the National Fund Management Committee, and only Hanhwa is willing to buy the firm.”

sanjuck@donga.com