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Hyundai, LG still at loggerheads

Deadline comes,goes, while SK government looks redfaced

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Desperate last minute negotions for the large family conglomerates (chaebols) have failed to resolve difficulties between Hyundai and LG. According to local English language paper The Korea Herald, that means that third parties will now be pulled into the discussions. The newspaper reported that President Kim and the South Korean government will now instruct local banks to target subsidiaries which are not liquid. That move could precipitate the chaebols to stop dragging their feet and complete the negotiations which have become something of a joke for the rest of the world. ®

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