BUSINESS – Daewoo CEO dismissed over Burma sale criticisms

Daewoo International CEO Jeon Byeong-eal has been dismissed after openly disapproving of plans to sell off the company’s stake in a Burmese natural gas project. Daewoo’s primary stakeholder, the South Korean based steelmaker, has been considering selling a gas project which has been operating in waters off the coast of Burma since 2013. POSCO reportedly requested the resignation of the CEO after Jeon posted a message on the company’s bulletin board critising POSCO management for the sale.