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SIX SOUTH KOREAN HOSTAGES RELEASED FROM SHANGHAI FACTORY.
SHANGHAI, Dec 3 Asia Pulse - Six South Korean executives and mid-level managers at a factory in Shanghai who were taken hostage over a week ago by local workers were released Friday, company sources here said.
Hwain Spinning Co. said the South Koreans were set free after being held by some 1,000 Chinese workers since November 23, but that the company's president Woo Young-pan is still being held by the workers.
The Seoul-based fiber spinning company said some of the South Koreans were beaten, but not seriously injured, by local workers when they were first taken hostage. The workers seized the executives to protest a planned shutdown of the facility.
The company reported US$30 million in sales last year, but no net profit. It started operations in Shanghai in 1997 and built a second factory three years later. Hwain Spinning employs 1,600 ...
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Source: HighBeam Research, SIX SOUTH KOREAN HOSTAGES RELEASED FROM SHANGHAI FACTORY.