Kumho Petrochemical’s union “Park shakes the company, I will not sit down”

▲ Headquarters of Kumho Petrochemical in Jung-gu, Seoul. Ⓒ Kwon Chang-hoe, reporter

“Even though the company is prospering, our Kumho Petrochemical labor union will not sit down anymore about managing director Park Chul-wan, who shakes our company with ridiculous shareholder proposals and management rights disputes for self-interest.”

On the 10th, the unions of business sites such as the Yeosu Plant, Ulsan Resin Plant, and Ulsan Rubber Plant, under the Kumho Petrochemical Union (National Chemical Labor Union Federation, Kumho Petrochemical Labor Union), made a joint statement on the 10th and made such a statement.

The union pointed out that “From a worker’s point of view, the excessive dividend demand proposed by Park is just a means to get a simple vote without any understanding or consideration for the company, Kumho Petrochemical, which runs the equipment industry.”

He added, “The candidates for outside directors who were recommended are those who have a close relationship with Mr. Park, and it is doubtful that the intention is really a recommendation for Kumho Petrochemical.”

The union also said, “For the past 10 years, Kumho Petrochemical workers have worked hard in the field to normalize the company.” I asked what I tried and what I tried.

“Our union is trying to make a voice so that the company is again swept away by disputes, becomes insolvent, and is no longer swung for the benefit of certain individuals or forces with impure intentions.”

The union said, “After the Kumho Group Workout in 2010, we are proud that Kumho Petrochemical has normalized management and became a world-class company.” “We have achieved results,” he said.

On the other hand, Park Chan-koo’s nephew, Park, declared in January that he would resolve his special relationship with Chairman Park, demanded a change of directors and increased dividends, setting fire to the’nephew’s trouble’.

The direction of the dispute over the management rights of Kumho Petrochemical is expected to be decided at the regular shareholders’ meeting held on the 26th.