For some South Korea watchers, the bad news isn't over
Article Abstract:
Ssangyong Investment and Securities Co. analyst head Stephen Marvin refuses to believe that the recent recovery of some 40% in South Korea's stock market is the end of the country's financial problems. Though foreign stock investments amounted to about 1.2 trillion won or $682.8 million by February 1998, Mr. Marvin forecasts a decline in stock prices. He thinks that the market will go lower than the 300 point level in the next weeks from January's close of 558.33 despite government's restructuring of short-term foreign debt.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1998
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Noodle-maker shines as investment staple
Article Abstract:
Noodle manufacturer Nong Shim and security services company S1 are two of the Korean companies that have remained stable despite the economic downturn in the country. Nong Shim posted sales increase of 30% from Jan to June 1998, compared to 1997, as Koreans prefer to buy cheaper alternative food. Nong Shim's share prices have increased by almost 70% since Jan 1998. S1, an affiliate of the Samsung Group, has maintained a 60% share in the market, clearly making the security services company the dominant player in the industry.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1998
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Strikes at Hyundai Motor threaten recovery of economy: growing labor woes scare off investors; confrontation may determine fate of reform efforts
Article Abstract:
Employee strikes at Hyundai Motor Co, Hyundai Group's automobile unit, is worsening South Korea's ailing economy. Hyundai Group, the largest conglomerate in the region, hires at least 20% of the city's one million citizens. However, due to the regional crisis' effect on the automobile market, the management was forced to dismiss 1,566 employees, a move that impelled the union to strike. South Korea's layoffs are growing and unemployment rate reached a record in June 1998 of 7.7% to 1.5 mil unemployed.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1998
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