(TIME) -- "Most CEOS say, 'Follow me,'" says Suh Doo Chil. "I say, 'Let's go.'" As boss of South Korean telecom- equipment supplier Eastel Systems, Suh is confronting his country's rigid corporate culture. When he took over as CEO three years ago, the company had posted a $57 million loss, debt was out of control, and engineers were heading for the exits. Suh started paring debt and halved the work force, a gutsy move in layoff-averse Korea. The hard-driving Suh, who counts Jack Welch and Margaret Thatcher among his heroes, dismantled Eastel Systems' hierarchy, which stopped anybody from making a decision unless the boss was around. Now he enjoys sitting with his employees over a meal of grilled pork and fiery Korean-style rice wine. His strategy is paying off. Debt is down 60%, and Eastel expects to eke out a small profit this year, while competitors are going bust. And the engineers are smiling again. --By Donald Macintyre/Seoul With reporting by Noel Yang