Paper tiger

Article Abstract:

Stephen Marvin, head of the research team at Jardine Fleming in Seoul, South Korea, regards his main task as ensuring that investors do not lose money. He feels that he simply presented the facts when he wrote in his collection of stockmarket reports, entitled 'A Second Crisis is Coming to Korea,' that the South Korean economy could still face difficulties. However, he welcomes public discussion, and accepts that he cannot ever be infallible. He feels that continued state intervention in South Korea's banking system to support failing companies is deterring investors.

Officials and employees, Investment banks, Interview, Jardine Fleming Group Ltd., Marvin, Stephen

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Not again

Article Abstract:

Analysts hold differing opinions on the likelihood of South Korea experiencing a major financial crisis, but all agree that the economy is in serious difficulty. Six conglomerates have gone bankrupt, or almost bankrupt, in the early months of 1997, and a survey of 555 firms revealed that the won's drop of 5.2% against the US dollar in the first half of 1997 led to a combined loss of 2.1 trillion won. Some analysts believe that a few more major bankruptcies would bring severe financial problems, but others feel that government controls will prevent financial disaster.

Foreign exchange, Bankruptcy

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Growing pains

Article Abstract:

South Korea wants to be the largest shipbuilding country in the world and briefly surpassed Japan in 1993 to achieve this title. Since then, Japan has regained the lead in shipbuilding largely because of the declining dollar value of the yen. A weaker yen makes South Korean ships less competitive against those from Japan. Industry analysts note that South Korean shipbuilders need to diversify into different types of vessels to reduce their dependence on oil tankers, bulk carriers and container ships.

Ship Building and Repairing, Shipbuilding & Repair, Shipbuilding industry

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