Hanwha Promises 1-Year Job Security for Samsung Execs

Hanwha Group has pledged to retain for at least one year all of management of four chemical and defense firms it is buying from Samsung Group under a controversial deal.

High-performing executives will be retained even longer, Hanwha said. The conglomerate earlier pledged to retain 8,200 non-management staff at the companies, but executives were expected to be let go.

A senior Hanwha executive said Monday, "We will of course offer longer-term contracts to managers who perform well."

Another Hanwha executive said, "There were rumors that managers would be laid off, which raised concerns, but we will try to retain all staff."

Samsung Techwin CEO Kim Cheol-kyo also tried to calm fears in an email on Monday, saying, "Job security and even the treatment of management-level staff will be maintained and guaranteed."

Samsung Techwin workers last week formed an emergency committee and are preparing to form a labor union, which is prohibited in the Samsung Group, to protest against the massive deal.

Hanwha announced last week it is buying the chemical and defense firms from Samsung for W1.9 trillion (US$1=W1,112).

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WATCH: John Travolta Promises To Take Care Of James Gandolfini's Family

John Travolta promised to take care of James Gandolfini's family on "Good Morning America" Thursday morning.

News of James Gandolfini's death yesterday shocked many people, not least of all his childhood friend John Travolta. During an appearance on "Good Morning America" Thursday morning, the 59-year-old actor -- who appeared in films such as "Get Shorty" and "The Taking of Pelham" with his fellow New Jersey native -- declared that he would watch after Gandolfini's two children, Michael, 13, and Liliana, 8 months.

"My father sold tires to his father. I was his inspiration to get into the business. He would see pictures of me on the wall from movies and he decided that he wanted to be an actor."

Travolta added: "My goal is to make sure that his family is okay. His little boy, I watched him grow up, and his brand new little girl. We'll just make sure they're taken care of. That's the whole idea."

The generous statement comes after "The Sopranos" actor looked after Travolta through his own rough time: when Travolta's teenage son Jett abruptly died in 2009 from a seizure. He remembered fondly: "James went out of his way to come to Florida and he would not leave Florida until I was OK, or he felt that I would be fine. After a week I said, 'Jim you can really, you can, you know, we'll be fine. I've got a lot of support here.' But the idea that in our profession someone would go out of their way and not want to leave you until he felt you were OK, that's the kind of soul that James Gandolfini was."

Gandolfini died Thursday while vacationing abroad in Italy with son Michael, from his previous marriage to Marcy Wudarski. He leaves behind his current wife, Deborah Lin, and their 8-month-old daughter Liliana.

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