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Korean Telecom industry slims down, cuts jobs
Posted: 08-Nov-2003 [Source: The Korea Herald]

[Major players in Korea's slumping telecom market restructuring and cutting work forces in an effort to remain competitive.]

by Yang Sung-jin -- "Korea's telecom industry is now undergoing a wave of restructuring and job cuts in an attempt to stay competitive ahead of a change in the regulatory framework and amid the protracted economic slump.

Hanaro Telecom Inc., the country's second-largest broadband carrier, recently asked its 51 executive-level officials to submit resignation letters. The company is also accepting early-retirement applications from the high-level executives.

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