A new helmsman

Article Abstract:

South Korean president, Kiam Dae Jung, sees the country's international connections as important for the revival of the economy. Foreign investment helps to repay foreign debt, creates employment and brings new skills, he argues. The South Korean conglomerates, or chaebols, are seeking to reform, and foreign investors should be allowed to acquire chaebol subsidiaries as part of this reform. Reform is needed to survive competition in the world economy. The South Korean economy can return to normal two years from 1998 if reforms are carried out.

Diversified Companies, Conglomerate corporations, Interview

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The next step; amid a war on corruption, South Korea strives to remake its economy

Article Abstract:

South Korea has become the 11th largest economy in the world and the 12th largest trading nation and will join the Organization for Economic Cooperation and Development (OECD) later in 1996. Membership in the OECD will require South Korea to loosen its restrictions on foreign investment and ease its restrictive labor laws. Trading partners are pressuring the South Korean government to open up foreign investment while domestic groups call for an end to political corruption.

International economic relations

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Amnesty international

Article Abstract:

South Korea has decided to liberalize its policy on foreign labor. As the amnesty took effect, the number of illegal workers that surfaced was much more than what was expected. This situation underlines the acute native labor shortage in the country and the impracticality of legislating against foreign workers. The manufacturing industry, which still needs an additional 360,000 workers, is especially dependent on foreigners.

Laws, regulations and rules, Alien labor, Foreign labor, Korea, South

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