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Enron Mail |
Mike - thanks. mcs
Steve - FYI. mcs Mike Dahlke@ENRON_DEVELOPMENT 06/07/2000 14:09 To: Mark Schroeder@ECT cc: Stella Chan/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT Subject: Korean Electric Restructuring - status Mark, "Early July" is upon us and it seems that the Electric Restructuring bill has yet to be re-introduced in the Korean National Assembly. I believe there is about one month left in this session, which seems like a very short time to consider such important legislation. It seems the government has made restructuring the banking system its first priority for this meeting of the Assembly. Commentators on the Korean economy have been consistent in expressing concern about the state of the banking and insurance industries where cosmetic changes have occurred but fundamental reforms have been few and far between. Mergers of many banks appear urgent to salvage a few strong banks that can be competitive in a global capital marker. However, there is resistance both from both executives and labor. With a new coalition, President Kim may feel that he has to focus his efforts and not risk having the electric reform "tabled" a second time, particularly if it might mean facing the combined protest of the Banking and Electric sector unions. There is still some time yet for the Electricity to make on the agenda and the evidence indicates the Administration remains committed to pushing forward with Energy sector reforms. Practically, however, the public debate may not occur until this Fall. I will let you know as I learn more about the status. Mike D.
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