Daewoo Runs Over Sotnykov

Premier Pustovoitenko agreed to the Industrial Policy Minister's proposal and signed a directive "to strengthen the AvtoZAZ-Daewoo Joint Venture management."

This directive, says UNIAN, envisages replacing Chairman of the Board Oleksandr Sotnykov.

Meanwhile Mr. Sotnykov himself was spending the morning in the conference hall and then drove to the plant. Reporters could not reach him and found only AvtoZAZ Director General Serhiy Yevtushenko who had heard something about Sotnykov's dismissal but could not be more specific. In response to UNIAN's information about his candidacy as the new Chairman of the Board, he commented briefly, "There is information to this effect." And then he said that if he were to head the board, he would continue working to protect the interests of the Ukrainian side in all business relationships, but that his policy would not be as rigid as Sotnykov's, so there would be a possibility to develop the joint venture without hindering any Ukrainian interests. He believes that both sides should seek a middle course. Mr. Yevtushenko did not agree with some experts maintaining that the apple of discord is who will control sales proceeds. He dwelt on Ukrainian-Korean differences in choosing a bank to service the venture. The Koreans proposed Inzhebank (with 100% foreign capital) and Ukrainians wanted a prestigious domestic bank.

Speaking in Zaporizhzhia Monday, President Kuchma declared that, in his opinion, the AvtoZAZ-Daewoo problems ought to have been solved "forthwith" (courtesy of Interfax Ukraine), as soon as they emerged, because "the South Koreans require more attention than any other investors."