Corfam in Young Chang

[VOCE88@AOL.COM]

In a message dated 10/7/1999 8:05:56 PM Eastern Daylight Time, 
markbolsius@optusnet.com.au writes:

> 
>  I thought Young Chang took over Yamaha's Korean facilities in a
>  nationalisation of many Japanese companies back in the 50's?
>  
>  Is that accurate of an urban myth?
>  
>  
>  Cheers
>  Mark Bolsius
>  Bolsius Piano Services
>  Canberra Australia

Hi Mark -

As I understand it, the Kim Bros. were Yamaha dealers and after The Korean 
Conflict, the US offered low cost "rebuilding" loans to businesses. The Kims 
took advantage of this and set up a facility to make Yamies for the Korean 
market, which they leased to Yamaha. (This also got around a huge import tax 
on complete pianos)

After ten years of this arrangement, the Kims did not renew the lease. (I 
dont know the details involved) and started manufacturing the Young Chang 
piano. 

Since I've learned this from company reps. and was not there first hand -- 
can someone confirm this for me?


Richard Galassini
Cunningham Piano Co
Phila., Pa. 
1 (800) 394 1117