Industry Reformation Policy and Its Impact to Automotive Industry in Korea

During the fourth five year plan, most of leading enterprises in Korea have made large scale investment in heavy and chemical industries. But global economic recession made the future of heavy and chemical industries of Korea very gloomy. Consequently Korean Government issued the Industry reformation policy to rationalize the structure and to enhance international competitive strengths of Korean industries by the adjustment of business sector and investment scope among specific enterprises. This policy will be enforced for reasonable length of time.