Winia Dimchae Union Calls for Immediate Halt to Asset Sale Without Job Security

"Call for Rehabilitation Plan Through Business Transfer Method"

Press conference held by the Gwangju Jeonnam branch of the Korean Metal Workers' Union. Provided by the Gwangju Jeonnam branch of the Korean Metal Workers' Union.

The Winia Dimchae branch of the Gwangju Jeonnam branch of the Korean Metal Workers' Union has called for an immediate halt to the asset sale process that does not guarantee job security for workers.

On the morning of May 7, the union held a press conference in front of the Seoul Bankruptcy Court, stating, "Instead of an asset sale, a rehabilitation plan for Winia Dimchae should be established through a business transfer method that guarantees union members' job security. We oppose the company's self-rescue plan to quickly dispose of assets by finding a buyer," they said.

They argued, "This approach does not guarantee union members' employment and is effectively no different from liquidation. For the sake of union members' livelihoods, we appeal to the Seoul Bankruptcy Court to help ensure that the company is sold through a business transfer method."

They further emphasized, "Since the corporate rehabilitation process began due to excessive investment losses, the company must take responsibility for this. We urge the Seoul Bankruptcy Court to make a decision that will allow Winia Dimchae to retain its status as the first kimchi refrigerator manufacturer."

Meanwhile, Winia Dimchae, a major affiliate of the Daewoo Winia Group, entered corporate rehabilitation proceedings in October 2023. However, the company failed to submit a rehabilitation plan within the deadline and the court decided to terminate the rehabilitation process. In March, acquisition negotiations with the private equity fund Seoul Private Equity and the local refrigeration equipment manufacturer Gwangwon ENG broke down, and no new potential buyers have emerged.