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11 January, 2001The Korean Metal Workers' Federation is distributing posters offering a reward for any information on Kim Woo-choong's whereabouts.
KOREA, REP: According to a "WANTED" poster produced by the Korean Metal Workers' Federation, the former chairman of the Daewoo Group, Kim Woo-choong, has driven many of the Group's companies into bankruptcy and liquidation through his "improper and inapt corporate management." He is accused of bribery, corruption and the embezzlement of public funds to the tune of 20 trillion won (US$15.7 billion) -- one-third of the South Korean government's budget -- and, says the union, is to blame for endangering the livelihood of between 700,000 to 2.5 million workers whose lives have been tied up with the companies and business of the Group.
Besides the turmoil caused by Daewoo problems in South Korea, this has also created severe job insecurity for tens of thousands of workers in Poland, the U.K. and Uzbekistan, who are employed by overseas subsidiaries of Daewoo Motors, the major player in the Group.
When his wrongdoings were exposed, Kim Woo-choong fled the country. The KMWF's "WANTED" poster offers a reward of US$500 to "anyone providing information on the whereabouts" of the former Daewoo chairman. The union has reasons to believe Kim is somewhere in Western Europe or in Africa.
Certain IMF affiliates are being supplied with the "WANTED" posters for distribution. In addition to Korean, the posters have been produced in English, German and French. For further information, contact the KMWF on Tel: (82/2) 712-4252, Fax: (82/2) 712-4253, or e-mail: [email protected]
Besides the turmoil caused by Daewoo problems in South Korea, this has also created severe job insecurity for tens of thousands of workers in Poland, the U.K. and Uzbekistan, who are employed by overseas subsidiaries of Daewoo Motors, the major player in the Group.
When his wrongdoings were exposed, Kim Woo-choong fled the country. The KMWF's "WANTED" poster offers a reward of US$500 to "anyone providing information on the whereabouts" of the former Daewoo chairman. The union has reasons to believe Kim is somewhere in Western Europe or in Africa.
Certain IMF affiliates are being supplied with the "WANTED" posters for distribution. In addition to Korean, the posters have been produced in English, German and French. For further information, contact the KMWF on Tel: (82/2) 712-4252, Fax: (82/2) 712-4253, or e-mail: [email protected]