S. Korea's 'chaebol' announce restructuring plans

South Korea's five largest business conglomerates or ''chaebol'' agreed Thursday Sept. 3 to restructure their affiliated companies in line with demands by the International Monetary Fund (IMF) to streamline the country's economy. Sohn Byung Doo (L), vice president of the Federation of Korean Industries, announces the agreement at a news conference in Seoul.

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