Korean Job Discussion Forums

[World Traveler]

[hagwonnewbie]

Yes, and they send a large part of that money they earn back to their family and investments in Korea. They also buy things in the US that were produced in Korea.

IMHO:

The economies that will succeed in the 21st century are the producer economies (Asia).

We will continue to see a decline in finance industries that were a large part of the bubble that western economies relied on.

Intellectual property? I doubt we will see any consistency in those rights being honored internationally in the future.

[rainism]

the issue is Korea wants to have its cake and eat it too (like most people and most countries)

it wants to be "global", that's one of their favorite words, if and when it works to their advantage and benefit.

the moment it doesn't (because the proverbial sword is always double edged), they want to stay as isolated and as "Han" as possible.

they claim they want foreign investment... This brings benefits. But they don't like it when such investment pushes up the value of their currency, which they like to keep as low as possible to keep a big exporting edge.

look at the problems Lonestar is having with its acquisition of KEB.. it essentially saved KEB when the bank was about to go under.

[bobbyhanlon]

in USD right now, japanese GDP per capita is about $47,000. unemployment is 4%. there aren't too many countries who wouldn't envy that.

[some waygug-in]

[cdninkorea]

Observant economists have pointed out that when the international community want to punish a country, they often set up a trade embargo, keeping goods from getting in or out, and that protectionist policies are no different in application.

Anyone who is worried about Korean unemployment (about 100% of my students, undergrads worried about what awaits them post-graduation) should welcome free trade and want entry barriers to the Korean market lowered.

If foreign companies can invest more easily, they'd be able to hire more people at a lower cost and furthermore, foreign companies would be able to sell goods at a lower cost.

[some waygug-in]

Economists are something like well paid astrologists.

You figure it out.

[PatrickGHBusan]

This thread has some pure comedy posts from our resident Daves Economists!

Seriously now....


The article IS well written. It IS coherent and well structured. This IS an improvement over the floating turds that are published in that paper usually but it is NOT anything special in terms of research or conclusions. It gets good press in here and thats to be expected considering the tone of some of whats written.

You want actual economic analysis or even better COMPARATIVE analysis of the relative prosperity of various economies....read some actual specialized litterature on the topic....reading the KT or Daves for economic analysis is like asking Homer Simpson's opinion on the nuclear physics....sure it will be entertaining...but how relevant will it be?

[some waygug-in]

[joelove]

[PatrickGHBusan]

[fermentation]

[The Cosmic Hum]

[PatrickGHBusan]

[le-paul]

Im no expert on this subject but didnt the miracle on the Han come from the fact the US gave so many billion dollars to Korea and Japan gave a so many billion dollars amounting to a figure higher than 19 billion in total - where is the miracle in that (not really a 'purely Korean enterprise' quote)?. They were also bailed out in the 90s by the US government with huge loans of billions of dollars.
And about the foreign market, havent Korean companies been merging with other companies such as Samsung/renault?
Nuclear power plants, shipbuilding, train builiding, aircraft industry etc rely heavily on foreign instruction/engineers dont they and only make specific parts or construct the product after its been manufactured in other countries?
I must admit, I was surprised reading that article becasue its not the information I have been fed over the last few years.
Like I say, im no expert so please feel free to correct me...


and what ever else...