The government is renewing its effort to sell a stake in Incheon International Airport – and it’s again running into public criticism. The Ministry of Strategy and Finance said on Monday it would revitalize its plan to sell stakes in a few state-run companies, including the airport.
President Lee Myung-bak promised to privatize some of the approximately 400 state-run companies when he ran for the office back in 2007. A few months after taking office, he announced a list of about 40 companies, including the airport, some golf courses and some of the companies, such as Hynix Semiconductor, that the government took over after the late 1990s financial crisis. To date, Mr. Lee sold the government’s stake in Hynix but hasn’t been able to do much more than that.
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