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3 Feb, 2009 05:54

Kick out corrupt managers: Korea’s answer to the credit crisis

Governments should take over failing businesses and kick out crooked businessmen in their efforts to beat the financial crisis, says the former South Korean President Kim Dae-jung.

He headed South Korea during the Asian financial crisis of 1997 and managed to put the country back on track with his reforms.

In an interview with RT, Kim Dae-jung also shared his view on the denuclearisation of the Korean Peninsula and North Korea’s future in the event of Kim Jong-il’s death.

The former leader of South Korea was awarded a Nobel Peace Prize for his effort to reconcile the two Koreas while he was in power.