Unlocking the citadel

Article Abstract:

South Korea faces a severe economic crisis and there is concern that nationalism could prevent the government from finding a solution. Students have declared boycotts for foreign goods, though President Kim Dae Jung has told administration officials not use use 'Buy Korean' slogans. Korea has suffered colonization and this is one reason for Korean nationalism in both North and South. Foreign investors complain of bureaucracy, and Dow Corning has decided to invest in Malaysia rather than South Korea. Kim Dae Jung aims to speed reforms that will make foreign investment easier.

Economic Programs, Administration of Economic Programs, Foreign investments, Cover Story, Economic policy

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Two down

Article Abstract:

The collapse of two of South Korea's biggest steel mills has forced business enterprises to realize the fact that no business enterprise can survive with poor financial stability. Hanbo Steel and Sammi Steel both closed down in the first quarter of 1997 because of debt. The closure of the two companies has been foreseen as the two companies are among the country's top ten most indebted companies. The collapse of the two companies have analysts thinking that other South Korean companies with heavy financial burdens may soon follow.

Finance, Sammi Steel Company Ltd., Hanbo Steel Industry Co.

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Blue House blues

Article Abstract:

The collapse of Hanbo Iron and Steel, the second-largest steel producer in South Korea, has had a very negative impact on the country's political establishment. It is clear that there has been high-level involvement in the provision of very large bank loans to the company, and the outcome of the investigation into the scandal could prove a turning point for South Korean politics. President Kim Young Sam is keeping a very low profile, determined to ensure that he is not tainted with any suspicion of corruption.

Investigations, Political aspects, Political corruption, Hanbo Group

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