Ex-Daewoo chairman in tears

Kim Woo-choong, founder of the now-defunct Daewoo Group, wipes tears from his face during a ceremony marking the centennial anniversary of the Business School of Yonsei University, held at the Daewoo Hall, Thursday. During a two-hour lecture to his alumni, Kim, 78, said that a bailout package from the International Monetary Fund to Korea during the 1997-98 financial crisis had been “disadvantageous” for the country. Daewoo, then-Korea’s second largest conglomerate, collapsed in 1999 after suffering a liquidity shortage. / Yonhap