Reform on the menu

Article Abstract:

South Korea's Pres-elect Kim Young Sam plans to eliminate bureaucracy in trade and make some organizational reforms in his first 100 days in office to revitalize the drooping economy. Included in the reorganization is the merging of the Economic Planning Board and the Ministry of Finance. This would then put the ministry's responsibility of deciding on policy loans to the central bank thereby eliminating the ministry's financial power over local companies. Ministry functions will also undergo reforms and two new ministries will be formed.

Political aspects, Administrative agencies, Korea, South, Government reorganizations

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Test of wills

Article Abstract:

President Kim Young Sam of South Korea's New Korea Party is ignoring mass public protests opposing a new labour law because he is determined to make the country more competitive. Hundreds of thousands of South Koreans have demonstrated against the law, passed on Dec. 26, 1996, which allows businesses to operate more flexible working conditions. Kim may be forced to modify the firm ruling if the country's slowing industries grind to a halt.

Economic aspects, Demonstrations and protests, Labor economics

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