(ATTN: ADDS more details in paras 6-8)
SEOUL, Dec. 8 (Yonhap) — South Korea will engage in constant, pre-emptive, market-centered corporate restructuring going forward, breaking away from government-spearheaded responses to developments that have been the norm in the past, the country’s chief economic policymaker sad Friday.
“The government will reshape its corporate restructuring paradigm in a way that can prod existing companies to seek innovation and strengthen their competitiveness,” Finance Minister Kim Dong-yeon said at an economy-related ministers meeting.
“A market-centered restructuring approach will be sought after, and the government will set up a fund to facilitate corporate restructuring,” he said….
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