Business Services Industry
HYUNDAI TO END CORPORATE RESTRUCTURING OFFICE.
AsiaPulse News, October, 2003
SEOUL, Oct 21 Asia Pulse - The Hyundai Group is planning to dismantle its corporate restructuring office in the wake of the inauguration of Hyun Jeong-eun, the wife of the late Hyundai Group Chairman Chung Mong-hun, as de facto group chairwoman on Tuesday, group officials said.
"Restructuring of the Hyundai Group has nearly been completed. As soon as the procedures for wealth transfer from the late Chung to his bereaved family are finished, the group's corporate restructuring office will be closed," a group source said.
The restructuring office has overseen group-wide operations and coordination on behalf of the late Chung. With Hyun set to be firmly in control of group-wide management, however, the restructuring office is destined to go, the source said....
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