Hollywood on the Han? South Korean food giant moves into showbiz

Article Abstract:

Samsung unit Cheil Foods & Chemicals is going independent and reached an agreement in Apr 1995 to put most of its money from share divestments into new Hollywood studio DreamWorks SKG. Most analysts are skeptical about the deal, which Cheil hopes to leverage into enormous multimedia clout in Asia. Steven Spielberg earlier rebuffed a similar proposal from Lee Kun Hee, head of Samsung and uncle of Cheil chief Lee Jae Hyun. Cheil, South Korea's biggest food company, will get an 11.1% stake, a seat on the studio's board and distribution and marketing rights in most of Asia.

Motion picture & video production, Motion Picture Production, Motion Picture and Video Production, Finance, Investments, Corporations, Motion picture industry, Movie industry, Movie production, Dreamworks SKG, Corporations, South Korean, Cheil Foods and Chemicals Inc.

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Watch your balance

Article Abstract:

South Korea's GDP growth of 8.4% in 1994 and 9.3% in the last quarter pleased some observers but worried many experts who fear the economy will overheat. However, looser money policy has eased the debt burden on firms without raising inflation above 4.9% in Jan 1995 and 4.2% in Feb 1995. The won's rise against the dollar has also helped companies with dollar-denominated debt. Greater growth in imports,22%, than in exports, 17%, sent the current account $4.8 billion into the red, with $6 billion predicted for 1995.

Economic aspects

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Time bomb: South Korea's pension fund creates controversy

Article Abstract:

In 1994 managers of South Korea's National Pension Fund increased the share invested in the public sector from 40% to 92% despite returns in the public sector being about 4% lower than in other sectors. The managers say infrastructure projects will benefit contributors more than other types of investment even if the immediate return is lower, a point many observers dispute. However, the fund returned about 12% overall in 1994, compared to inflation of 5.6% and growth in the national product of 8.3%.

Cover Story, Demographic aspects, Pension funds, Retirement income

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