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Real Reality
Joined: 10 Jan 2003
Location: Seoul
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 Posted: Sat Mar 01, 2008 6:44 am Post subject: Seoul Ranked Outside |
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Seoul Ranked Outside Top 50 Financial Hubs
By Lee Hyo-sik, Korea Times (February 29, 2008)
http://www.koreatimes.co.kr/www/news/biz/2008/03/123_19856.html
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... it has even failed to make it into the top 50 in the latest international financial hub ranking....
But the Roh government apparently failed due to anti-foreign sentiment, inconsistent policies and militant labor unions.
Foreign analysts have pointed out that Korea's anti-foreign sentiment is the biggest obstacle to the hub plan, adding the country should deregulate the financial market, lower taxes, and create a more foreign-friendly residential and educational environment. |
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TheChickenLover
Joined: 17 Dec 2007
Location: The Chicken Coop
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| Posted: Sat Mar 01, 2008 6:59 am Post subject: |
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Yes, but Seoul is **Sparkling**.
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regicide
Joined: 01 Sep 2006
Location: United States
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| Posted: Sat Mar 01, 2008 6:35 pm Post subject: Re: Seoul Ranked Outside |
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| Real Reality wrote: |
Seoul Ranked Outside Top 50 Financial Hubs
By Lee Hyo-sik, Korea Times (February 29, 2008)
http://www.koreatimes.co.kr/www/news/biz/2008/03/123_19856.html
| Quote: |
... it has even failed to make it into the top 50 in the latest international financial hub ranking....
But the Roh government apparently failed due to anti-foreign sentiment, inconsistent policies and militant labor unions.
Foreign analysts have pointed out that Korea's anti-foreign sentiment is the biggest obstacle to the hub plan, adding the country should deregulate the financial market, lower taxes, and create a more foreign-friendly residential and educational environment. |
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I like this part....
"Seoul did not make it to the list because it is not an international financial center. I do not think Korea wants to be one,'' said Michael Breen, president of Insight Communications Consultants in Seoul.
He said what it means to be a financial hub is different to the Korean government and people from international communities. ``Being a financial center in Seoul means a strong local financial industry, whereas to international communities, it means a regulation-free environment where all types of financial activities are allowed,'' Breen said.
He said Korea's public sentiment opposes foreign companies and investors, well illustrated by the Lone Star case, adding it is the mentality of the people who don't want Seoul to be a global financial center.
``Reforming the taxation system and building more international schools and hospitals will definitely help Korea attract more foreign investment. But above all, the government should first decide whether or not it wants to become a place like Singapore or Dubai,'' Breen suggested. |
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Chicoloco
Joined: 18 Oct 2006
Location: In the ring.
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| Posted: Sat Mar 01, 2008 6:57 pm Post subject: |
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| You reap what you sow. |
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shaunew
Joined: 17 Apr 2007
Location: Calgary
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| Posted: Sat Mar 01, 2008 7:03 pm Post subject: |
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Korean needs to change in every aspect. I wear a suit to work each day. When I'm on lunch or meeting a client I still get stares and still have kids yell hellloooeee to me. I have been here for years and was a teacher so I do know what to expect from Koreans.
But if the CEO of some international company is walking home to his apartment and has kids yelling at him what will he think? This is why Seoul will never be a financial hub. All non-Koreans are just monkey's for the pleasure of Koreans to yell, stare, push, say racial comments about.
The hardship to start a company in Korean is almost impossible, being a foreigner you are looked at as stealing money or jobs from Koreans, because you have the balls to go out and take a risk. The lone star case is the perfect example. The made money where the Koreans just ran the financial markets into the ground with corruption and bribes. |
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weatherman
Joined: 14 Jan 2003
Location: Korea
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| Posted: Sat Mar 01, 2008 7:17 pm Post subject: |
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| More confirmation that Korea is still full of the xenophobes that everybody knows and loves. This is the Freak Show. |
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