SAMMI GROUP CHAIRMAN KIM HYUN-BAE TELLS A NEWS CONFERENCE IN SEOUL
Kim Hyun-bae (R), chairman of South Korea's Sammi Group, and the group's executives answer reporters' questions during a news conference in Seoul, March 19. Sammi Steel Co and four affiliates sought protection from creditors on Tuesday. At the end of 1996 the steel firm's liabilities were 1.45 trillion won ($1.6 billion) against assets of 1.53 trillion won. It was the second steel company to collapse this year.