U.S. news faults Korean economic heads

New York Times reported on August 8 about Korea`s cabinet reshuffle, saying that the economic team was sacked with worries about the delay in financial reform and excessive bank loans to chaebol groups.

However, the paper noted that the Korean stock market had plunged the day the new Finance-Economy Minister Jin Nyum said that he would try to get some concrete results before the end of the year, reflecting the fact that Korean inventors are not influenced by such remarks.

Meanwhile, the Wall Street Journal reported in its article titled "Korea`s new economic team leader is hesitant to reform" that some are pessimistic whether Jin can effectively carry forward reform, although he is determined to pursue it.