Samsung's auto business

Sat, 03 Dec 1994 | Source: AFP

SEOUL (AFP): The government is close to giving the go-ahead to South Korea's leading Samsung Business Group to open an automobile business, officials said yesterday.

"Samsung's application will be given a positive consideration," Vice Trade Minister Park Woon-Seo told a press conference.

Park's comment came one day after President Kim Young-sam told a business gathering that his administration would encourage a level playing field within the country.

"First of all, the government will ensure to the maximum extent free and fair competition in the domestic market," Kim declared.

Administration sources said Kim's declaration could be interpreted as a virtual opening of unrestricted competition among South Korea's auto makers, which have been trying to block Samsung's bid.

View JSON | Print