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Real Reality
Joined: 10 Jan 2003
Location: Seoul
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 Posted: Mon Jun 25, 2007 2:53 am Post subject: Korea: investment risk zone |
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Foreign Businesses Shunning Korea
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| The government came out with a so-called "balanced national development" plan that runs counter to global trends and imposed regulations after regulations against foreign businesses seeking to obtain factory space. Fickle economic policies, militant unions, complicated authorization procedures and backward education and living conditions haven't changed at all over the last five years. The Incheon, Busan and Gwangyang free economic zones, which had claimed to be a Northeast Asian "hub", were able to bring in only 34 cases of foreign direct investment over the last five years. Since it was launched in 1990, the Shanghai free economic zone was able to attract 2,646 instances of FDI, which is 80 times more than what Korea was able to achieve. And because of the government, which has been shouting out that it has not done anything wrong, Korea is being branded as an investment risk zone. |
Chosun Ilbo (June 25, 2007)
http://english.chosun.com/w21data/html/news/200706/200706250031.html |
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Guri Guy
Joined: 07 Sep 2003
Location: Bamboo Island
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| Posted: Mon Jun 25, 2007 3:54 am Post subject: |
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| Shooting yourself in the foot comes to mind. Welcome to the hubcap of Asia. |
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Tony_Balony
Joined: 12 Apr 2007
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| Posted: Mon Jun 25, 2007 4:05 am Post subject: |
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Those numbers are wicked.  |
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Guri Guy
Joined: 07 Sep 2003
Location: Bamboo Island
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| Posted: Mon Jun 25, 2007 5:08 am Post subject: |
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To be fair, the Korean numbers are over the last 5 years and the Chinese ones are over the last 17. Still, 80 times greater is a staggering number.
Oh and good to have you back Real Reality. |
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