Scrutinized Seoul antes up

Article Abstract:

Seoul Guarantee Insurance is expected to receive $4.32 billion from South Korea's Ministry of Finance and Economy in order to keep major companies, including Daewoo Group and Hynix Semiconductor Inc., afloat. U.S. Trade Representative Robert Zoellick has expressed concerns that such a move is against World Trade Organization regulations, especially when Seoul Guarantee Insurance is 98% owned by the government. Support of these companies during difficult economic times is essential to the government of President Kim Dae Jung, with only one year before presidential elections.

Insurance, Insurance Carriers and Related Activities, INSURANCE CARRIERS, Laws, regulations and rules, Insurance industry, Economic policy, Beliefs, opinions and attitudes, World Trade Organization, Kim Dae Jung, Daewoo Corp., Zoellick, Robert B., South Korea. Ministry of Finance, Seoul Guarantee Insurance Co.

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Korea growing at slowest pace since 1998

Article Abstract:

The South Korean economy grew only 2.7% in the second quarter and is expected to slow down further in upcoming months. Low demand worldwide for technology products, which account for 30% of Korea's exports, and the economic slump in the U.S. are contributing to the slowdown. Financial problems at Hynix Semiconductor Inc. are further proof that the Korean economy is in a downturn.

Financial analysis, Exports, Economic aspects, Supply and demand, Electronics

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In strategy reversal, Seoul agrees to roll over some debt

Article Abstract:

Korean Development Bank will assist multiple companies to refinance by rolling over their large maturing debt, a strategy the bank says is essential for a steady economy. The bank has bought 80% of Hyundai Electronics Industries Co.'s outstanding bonds and the chip maker has agreed to pay the balance.

Use of Funds, Statistical Data Included, Korea Development Bank, Hyundai Electronics Industries Company Ltd.

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