Korea Post CEO Named Koo Yung-bo
Korea Post, a semi-state postal service operator, has named Koo Yung-bo, 52, as president, succeeding Lee Kyo-yong.
In a statement, Koo said he would take a bold step to improve the postal service¡¯s competitiveness, seeking the real value of the postal service.
The postal service operator, which has been in transition for partial privatization since 2000 as part of the government¡¯s reform measures, is expected to draw up a mid-term business proposal in a month based on the instruction offered by Information and Communication Minister Chin Dae-je.
“I will work closely with 40,000 postal service employees and establish a corporate structure in Korea Post to fulfill our objectives,” Koo was quoted as saying in the statement.
“There is no reason for the government to protect the mail service from competition from the private sector, ¡¯¡¯ the statement said.
In 2002, Korea Post had earmarked four trillion won in budget, with 3,600 postal service offices nationwide.
The postal service operator carries a 5.5-billion mail traffic annually and has postal savings worth 30 trillion won as well as insurance services worth 19.5 trillion won.
Koo, a lifetime bureaucrat in postal and telecommunication sectors, had served as a permanent member of telecom regulator Korea Communications Commission since 2002.
04-13-2003 17:58
