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jaganath69
Joined: 17 Jul 2003
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 Posted: Wed Jul 18, 2007 7:21 pm Post subject: KT article on failed 'Hub' vision |
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http://www.koreatimes.co.kr/www/news/biz/2007/07/123_6774.html
The most pertinent quote in the whole article, which could apply to anyone working here.
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He noted that the best negative example is regulators' probe of the legitimacy of Lone Star's takeover of the Korea Exchange Bank (KEB) in 2003. ``Through this incident, the international community thinks Koreans believe that non-Koreans making money in Korea is like committing a crime, which drives away potential foreign investors.'' |
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seoulsucker
Joined: 05 Mar 2006
Location: The Land of the Hesitant Cutoff
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| Posted: Wed Jul 18, 2007 7:30 pm Post subject: |
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Quick, concise take on the whole "hub" issue. Good article.
Reminds me a bit of the guys in Thailand offering soapy massages. They carry around a picture that shows a luxurious room with gorgeous women fawning all over a guy in a jacuzzi. In reality, you're lucky if the woman has more than 12 teeth in her head and if the sheets have been changed since 1986.
You can promote it as one thing all you want, but once the curtain is drawn back you got some 'splainin to do. |
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eamo
Joined: 08 Mar 2003
Location: Shepherd's Bush, 1964.
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| Posted: Wed Jul 18, 2007 7:41 pm Post subject: Re: KT article on failed 'Hub' vision |
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| jaganath69 wrote: |
http://www.koreatimes.co.kr/www/news/biz/2007/07/123_6774.html
The most pertinent quote in the whole article, which could apply to anyone working here.
| Quote: |
He noted that the best negative example is regulators' probe of the legitimacy of Lone Star's takeover of the Korea Exchange Bank (KEB) in 2003. ``Through this incident, the international community thinks Koreans believe that non-Koreans making money in Korea is like committing a crime, which drives away potential foreign investors.'' |
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That is a real and vital reason for the failure of the 'hub' vision. Koreans are still way too parochial and suspicious of outsiders. They know how to say, 'global' and 'hub' but they don't really appreciate what those things involve. They involve foreigners coming in large numbers to Korea and making money here by employing Koreans and running their business the way they want to. |
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Chillin' Villain
Joined: 13 Mar 2003
Location: Goo Row
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| Posted: Wed Jul 18, 2007 7:46 pm Post subject: Re: KT article on failed 'Hub' vision |
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| jaganath69 wrote: |
The most pertinent quote in the whole article, which could apply to anyone working here.
| Quote: |
He noted that the best negative example is regulators' probe of the legitimacy of Lone Star's takeover of the Korea Exchange Bank (KEB) in 2003. ``Through this incident, the international community thinks Koreans believe that non-Koreans making money in Korea is like committing a crime, which drives away potential foreign investors.'' |
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I actually took out a pen and circled that exact same sentence as soon as I read it. Then I put a couple stars next to it and underlined it. One of the few times I've actually been pleasantly surprised by a Times/Herald article.
I'm not a Korea-slagger by any stretch (why would I be if I've decided to live here for so long), but it's nice to see that some can acknowledge the disillusion that's going on in regards to this. |
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endo
Joined: 14 Mar 2004
Location: Seoul...my home
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| Posted: Wed Jul 18, 2007 7:54 pm Post subject: |
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| What was the South Korean governments position on Lone Star? Why did they go after them? What was their reasoning? |
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normalcyispasse
Joined: 27 Oct 2006
Location: Yeosu until the end of February WOOOOOOOO
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| Posted: Wed Jul 18, 2007 7:55 pm Post subject: Re: KT article on failed 'Hub' vision |
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| eamo wrote: |
That is a real and vital reason for the failure of the 'hub' vision. Koreans are still way too parochial and suspicious of outsiders. They know how to say, 'global' and 'hub' but they don't really appreciate what those things involve. They involve foreigners coming in large numbers to Korea and making money here by employing Koreans and running their business the way they want to. |
Very well-said. I agree with this comment.
Right now I actually have a book published by the Yeosu Office of Education. Its title is "Let's Go to the Global World." It showcases a whopping TWO foreigners.
I've long said that Korea wants what I have to offer, but they don't want what I represent. It feels as if Korea wants me (and my kind) here to teach American English and be a cultural ambassador, but only inasmuch as it doesn't come close to conflicting with Korean interests. The moment that our cultures fail to mesh I inevitably hear, "When in Roma, do as Roma people." (Last time this happened, it was my head teacher trying to explain why the school wouldn't pay me overtime for working overtime because the Koreans didn't get paid overtime; I told her that if the school wanted a Korean, they should have hired a Korean.)
As of now, Korea is failing miserably as a hub of anything other than a jumping-off point for vacation travel. They are far too insular, and as long as they persist in maintaining that homogeneity Korea will continue to be viewed as a second-rate country with a first-class economy and third-rate cars. |
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spliff
Joined: 19 Jan 2004
Location: Khon Kaen, Thailand
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| Posted: Wed Jul 18, 2007 8:06 pm Post subject: |
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| seoulsucker wrote: |
Reminds me a bit of the guys in Thailand offering soapy massages. They carry around a picture that shows a luxurious room with gorgeous women fawning all over a guy in a jacuzzi. In reality, you're lucky if the woman has more than 12 teeth in her head and if the sheets have been changed since 1986. |
I've lived in Thailand going on 13 yrs now and have never once been offered a "soapy massage" from a guy. Do you, by any chance, look like a gay homo? |
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Troll_Bait
Joined: 04 Jan 2006
Location: [T]eaching experience doesn't matter much. -Lee Young-chan (pictured)
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| Posted: Wed Jul 18, 2007 8:16 pm Post subject: |
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http://www.koreatimes.co.kr/www/news/biz/2007/07/123_6774.html
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| The government unveiled a series of ambitious measures to turn the country into an international financial center over the past few years but the hub dream has become a hollow slogan, many international analysts say. |
Wasn't this "Hub of Asia" nonsense ridiculed from Day One? Oh yeah, I forgot, it was by stupid foreigners who don't look so stupid now.
| endo wrote: |
| What was the South Korean governments position on Lone Star? Why did they go after them? What was their reasoning? |
Here's a good blog entry.
http://www.rjkoehler.com/2007/06/26/they-report-you-decide/
Double standard? Perish the thought!
I wonder if it might have anything to do with this:
http://asia.news.yahoo.com/070704/3/34b8r.html
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South Korea says foreign direct investment dives
Foreign direct investment plans lodged with South Korea fell for the fourth successive quarter in the April-June period, data showed on Wednesday, denting the Asian nation's ambition of becoming a regional business hub.
The commerce ministry said foreign direct investment commitments fell 35 percent to $1.76 billion for the second quarter from a year earlier, following 28 percent and 3.9 percent annual drops respectively for the previous two quarters.
[ ... ] |
A drop of 35% in a single quarter?! |
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Doogie
Joined: 19 Jan 2006
Location: Hwaseong City
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| Posted: Wed Jul 18, 2007 8:22 pm Post subject: |
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| It's funny, I picked up the paper and read this article this morning. That sentence just jumped out at me and I thought "bang on". I'm leaving Korea next month after 2 years here and, for the most part, I have found Koreans to be pretty good people. Unfortunately, I am convinced more than ever that they just aren't ready to trust foreigners. Until they can get past their xenophobia, they aren't going to be the "hub" of anything. It's unfortunate as I think there's huge potential for this country. They have to get past their own insecurities. Mind you, the 20th century was, overall, pretty brutal for this country. Maybe it's just going to take a longer period of time for them to forget past evils. |
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The_Conservative
Joined: 15 Mar 2007
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seoulsucker
Joined: 05 Mar 2006
Location: The Land of the Hesitant Cutoff
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| Posted: Wed Jul 18, 2007 9:04 pm Post subject: |
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| spliff wrote: |
| seoulsucker wrote: |
Reminds me a bit of the guys in Thailand offering soapy massages. They carry around a picture that shows a luxurious room with gorgeous women fawning all over a guy in a jacuzzi. In reality, you're lucky if the woman has more than 12 teeth in her head and if the sheets have been changed since 1986. |
I've lived in Thailand going on 13 yrs now and have never once been offered a "soapy massage" from a guy. Do you, by any chance, look like a gay homo? |
Wouldn't a gay homo be straight? In that case, yes. I meant in the touristy areas, there are what is sometime called in Korea "beekees" or what could be called barkers. Guys who try to ferry you into the skanky joints. They're not the ones offering the goods, just want to get a chunk of what you'd spend by walking you in. |
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Sine qua non
Joined: 18 Feb 2007
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| Posted: Wed Jul 18, 2007 9:09 pm Post subject: Re: KT article on failed 'Hub' vision |
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[quote="The_Conservative"]
Yeah, it isn't right to knock the quality of Korean cars. Korean MP3 players, on the other hand.... |
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jdog2050
Joined: 17 Dec 2006
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| Posted: Wed Jul 18, 2007 9:41 pm Post subject: Re: KT article on failed 'Hub' vision |
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| jaganath69 wrote: |
http://www.koreatimes.co.kr/www/news/biz/2007/07/123_6774.html
The most pertinent quote in the whole article, which could apply to anyone working here.
| Quote: |
He noted that the best negative example is regulators' probe of the legitimacy of Lone Star's takeover of the Korea Exchange Bank (KEB) in 2003. ``Through this incident, the international community thinks Koreans believe that non-Koreans making money in Korea is like committing a crime, which drives away potential foreign investors.'' |
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One of the big and obvious problems with the Hub of Asia plan is that they focus on the big stuff, like Hedge Funds, etc, and make no concessions for the little businesses that might want to open up here (i.e., a Korean must own 51% of a small business, etc). Or if someone opens a large business, what about the foreign employees they send over to run it. How will they feel when their coworkers get discriminated against on a monthly basis?
Being a hub isn't just about having a few shiny skyskrapers with foreign names on them...it's food, art, clothing, small businesses. Nope, won't be a hub until the xenophobia is dealt with. |
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Jizzo T. Clown
Joined: 27 Mar 2006
Location: at my wit's end
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| Posted: Wed Jul 18, 2007 9:47 pm Post subject: Re: KT article on failed 'Hub' vision |
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[quote="Sine qua non"]
| The_Conservative wrote: |
Yeah, it isn't right to knock the quality of Korean cars. Korean MP3 players, on the other hand.... |
Lest we forget you can often judge a country by the quality of its lager. |
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jaganath69
Joined: 17 Jul 2003
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| Posted: Thu Jul 19, 2007 12:59 am Post subject: |
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| Can we now declare the hub idea to be dead, gone and buried? If so, what is next? |
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