Kim winds up U.S trip with economic diplomacy

President Kim Dae-Jung conducted active economic diplomacy in Chicago Saturday, busying himself meeting General Motors Chairman Jack Smith and Chairman Jamie Dimon of Bank One Corporation, the largest bank in the central U.S. region.

Meanwhile, the U.S. economic leaders Kim met during his five-day visit to the U.S. asked South Korea to make its labor market more flexible and continue restructuring for its economic development.

President Kim`s meeting with Smith at the Chicago Hilton Hotel, where Kim was staying, attracted particular concern both from the Korean and U.S. side in connection with the American automaker`s possible takeover of ailing Daewoo Motor.

Kim referred to the question of Daewoo Motor in a speech at a luncheon hosted by the U.S. Central Committee and Chicago Diplomatic Committee, also attended by Chairman Smith.

He said that the Korean government is dealing stringently with labor problems, and this is well proved by its action against the recent labor disputes at Daewoo Motor.

The president discussed with Chairman Dimon about Bank One`s investment in South Korea, according to his aides. Kim met Dimon at the request of the latter, they added. Bank One is said to be interested in the latest mergers and acquisitions (M&A) in South Korea.

Yun Seung-Mo ysmo@donga.com