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Six heads of state-run corporations fired for mismanagement

Six heads of state-run corporations fired for mismanagement

Posted March. 16, 2001 13:46,   


The government dismissed the presidents of six state-run companies and one inspector, citing their poor performances. The firms include the Korea National Housing Corp. (KNHC), Korea Water Resources Corp., Korea Coal Corp. and Korea Labor Welfare Corp.

Based on an evaluation of management at state-run companies by the Ministry of Planning and Budget, the government determined that the seven executives lacked in management skills and leadership ability. It was the first time that executives of government-controlled firms were fired for mismanagement.

The executives in question denied that they did anything wrong. Some said that they could not understand why the government would make the move when the executives had only one or two months left in their jobs.

A high-ranking government official said, ``Seven companies including KNHC were affected by the dismissal related with their poor performances,`` and noted that they were informed personally through the relevant ministries.

Choi Young-Hae moneychoi@donga.com