Word: tongmyung
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Dates: during 1980-1989
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...year. Inflation has reached almost 20%. Last month workers at the Sabuk coal mines, demanding a 40% pay hike, rioted for three days; a policeman was killed and scores on both sides were injured before the miners settled for a 20% increase. Three weeks ago, the Tongmyung Timber Co. of Pusan, South Korea's largest plywood maker, went bankrupt, leaving liabilities of $106 million. Some of its 3,000 employees demonstrated for their unpaid wages and skirmished with police. Says a Korean economist: "With more big bankruptcies like that one, much of our labor force could explode...
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