Korea appears to backpedal in war against conglomerates' stranglehold
Article Abstract:
South Korean Pres. Kim Young Sam's government's efforts to crackdown on the illegal activities of the chaebols has begun to wane. Government prosecutors have apparently lost interest in pursuing bribes-for-favors made by conglomerate corporations. Analysts noted the Kim cannot afford to disrupt the economy with such investigations before the upcoming elections in Apr. 1996. Moreover, they added the Kim stands to gain more public support with his decision not to crackdown on the chaebols.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1996
User Contributions:
Comment about this article or add new information about this topic:
Reform of ownership rules in Korea may not trigger foreign money flow
Article Abstract:
The South Korean government has raised the limit to foreign ownership of Korean corporations from 15% to 18% to attract more foreign investments. Compared to previous initiatives, however, the recent reform is expected to raise 30% less foreign investments. Analysts noted that the current Korean stocks are simply not attractive to foreign investors. They added that foreign investment will only step up if the benchmark interest rate falls from 12% to 10%.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1996
User Contributions:
Comment about this article or add new information about this topic: