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Issue Report

Collection of full-length papers and in-depth analysis of economic and management issues.

Suggestions for the Successful Implementation of the '7, 3 Privatization Plan'

Suggestions for the Successful Implementation of the '7, 3 Privatization Plan'

RYU Sang-Young

July 1, 1998

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Abstract

I. Background and characteristics of the ‘7·3 Privatization Plan’

A. Signalling the full-scale restructuring of the public sector

On July 3, 1998, the Planning and Budget Commission announced the government’s ‘First Privatization Plan’. According to the plan, 11 state-owned companies, including POSCO, and their 21 subsidiaries will be completely privatized. The number of companies subject to the plan represents 30% of the total number of state-owned enterprises (108) and account for 70% of total sales and payrolls.

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