Korea Gas Corp. CEO Jang Seok-hyo
Korea Gas Corp. CEO Jang Seok-hyo hosted a communication session with employees on Monday to explain the pending management issues, the company said on Monday.
The move came after the KOGAS labor union launched a strike last week against the company’s plan on debt and employee benefit restructuring.
“The most imminent task ahead of the company is to regain the trust of the public back through innovative corporate reform measures,” Jang said.
One of keys in the reforms is to sell non-core assets until the firm can slash 10.5 trillion won of debt by 2017. If realized, the utility giant’s debt ratio will fall below 249 percent. KOGAS’ debt ratio reached up to 389 percent as of the end of 2013.
(jyseo@heraldcorp.com)