People Power Party Gwangju Branch Seeks Solutions to Daewoo Winia Crisis

Holding a Meeting with Representatives of 10 Partner Companies

The People Power Party Gwangju Metropolitan City Party held a meeting on the afternoon of the 23rd at the party office with representatives from 10 Daewoo Winia partner companies to seek solutions to the ongoing situation.

The meeting was organized to listen to the difficulties faced by Daewoo Winia partner companies, and to hear about the current progress, support status, and suggestions.

The partner company representatives urged the central government’s attention and support, as well as responsible attitudes from Daewoo Winia’s management, to prevent a chain of bankruptcies.

Park Jae-deok, CEO of Pan Chemical and representative of the creditor group of partner companies, stated, “We hope that debt recovery and Winia’s factory restart happen simultaneously,” adding, “If court receivership begins, approval usually takes 2 to 3 months, but we request that approval be granted within 2 to 3 weeks.”

CEO Park lamented, “About 80% of kimchi refrigerators are produced during the kimchi-making season from October to December. If the factory cannot operate within this period, partner companies will not be able to survive.”

Ji Se-won, CEO of Eugene Techno, expressed frustration, saying, “Chairman Park Young-woo must appear as a witness at the National Assembly audit on the 26th,” and “The chairman of Daewoo Winia Group is from Gwangju. A hometown native is ruining a hometown company.”

Choi Kyung-ho, CEO of HS Chemical, emphasized, “Financial sector support is the most urgent,” and requested government attention and assistance.

Yang Su-jin, Vice President of Kyunghee, urged, “Partner companies have no choice but to rely on the Fair Trade Commission,” and called on the commission to fulfill its role.

Additionally, they requested legal punishment for intentional bankruptcy or unethical management, as well as public funding and other support to enable factory operations.

The partner company representatives agreed to operate the factory before approval even if it meant incurring losses. They pledged to do their best to produce 20,000 kimchi refrigerators during this kimchi-making season.

Joo Ki-hwan, Chairman of the Gwangju City Party, said, “The Gwangju City Party has formed a dedicated task force to save Daewoo Winia,” adding, “We will share progress with the partner company representatives and unite our intentions. We will actively request the government and the central party to prepare plans for factory restart and debt recovery.”

This content was produced with the assistance of AI translation services.