Korean Job Discussion Forums

[mack4289]

I thought the members of the GNP had a decent understanding of economics. Maybe not.

http://joongangdaily.joins.com/article/view.asp?aid=2881562

"In a voice still echoed by many South Korean nationalists, a lawmaker yesterday called the billions of dollars made by foreigners from local stock markets over the past three years a loss of national wealth.

Kim Yang-soo of the Grand National Party issued a press release based on data he received from the Financial Supervisory Service, which said the amount of stock dividends foreign investors earned on Korean stock markets from 2004 to 2006 stood at 12 trillion won ($13.1 billion).

�Foreigners are getting out with sizable profits from selling shares they purchased or in stock dividends. This exodus of the nation�s wealth has grown to a serious level under the current government,� Kim said in the press release. �The government should come up with a policy to foster local capital so that more local funds are invested in the local stock markets.�

[Pluto]

So? How many foreign shares are on the KRX?
Moreover, Korea is a service based economy with more than its fair share of capital entering the country. Everything is fair game in a globalized economy and I reckon that Korea is coming out ahead with everything on balance.

[Ya-ta Boy]

It would seem that not ALL the idiots are in the New United Democratic Party (or whatever Uri's new name is).

[Juregen]

What they don't realize its that they put the money in in the first place.

If you then create policies to curb the influx of Money, then you have a potential disaster on your hands.

As far as i am aware the Korean stock market is still relatively under valued, due to the perceived risks of governmental idiots.

[Julius]

If they stop foreigners doing business here then they can be the.........

HUB


OF


ASIA

[mindmetoo]

*head shake* Koreans want iron and oil and wood and bauxite and so on. They buy that from other nations. Koreans then turn those things into MP3 players and LCD screens and cars. The people who sell them oil do so because they think then they can use that Korean won they offered to buy things of value in Korea. Now, not everyone wants to exchange their won for cars and TVs. A building in Korea or shares in a company would be nice too.

But wait. People might not be able to take the won they were given for the oil and invest it in Korea? You're saying we can only use it on cars and MP3 players? I don't need a million Hyundai Ponys. I would like 10 million shares of Hyundai inc. So if I can't spend the Won on something I really want, I'm not going to want to sell my oil to Korea. I'll sell it to China or the USA. Thanks Korea, but your money is no good to me.

It's really scary a guy with a BA in psychology whose job is teaching 10 year olds not to pick their nose can figure out why maybe this attitude isn't a great thing and a highly paid Korean politicians can't.

Best of luck, Korea.

[Julius]

[Pligganease]

[igotthisguitar]

Foreign stock holders control most Korean companies etc.

So, yah ... one can safely assume many of the country's policies are $$$ ka-ching! $$$ influenced by outside interests

Has clearly been that way for quite some time, hasn't it?

[mindmetoo]

And the notion of money leaving Korea is also silly. If I take a trillion won out of Korea, I'm not going to spend it in Canada, am I? I'm going to exchange it with someone who wants the won so they can buy things in Korea or from Korea. Money only leaves Korea because people outside of Korea want the Korean money to spend in Korea.

[Julius]

[Ilsanman]

So they want and even encourage us to invest in their useless, inefficient companies, but whine when we sell out?

Scrub of Asia 1, Gullible foreigners 0

Or is it vice versa?

[Hollywoodaction]

He'd change his tune pretty damned fast if foreign investors pulled out of the Korean stock market in droves in order to invest elsewhere.

[mindmetoo]

[excitinghead]