Pocketbook poll: economic woes dominate voters' choice

Article Abstract:

The Dec 18, 1992 presidential elections in South Korea marks a first in the country's history as democratic issues take the backseat to economic issues. The three main candidates, Kim Young Sam of the ruling Democratic Liberal Party, Kim Dae Jung of the main opposition Democratic Party and Chung Ju Yung of the opposition United People's Party have all based their campaigns mainly on economic issues. South Korea's GDP growth in 3rd qtr 1992 was 3.1%, the lowest in 11 years, while GDP growth for the 1992 is forecasted to be lower than 5%. It is thus understandable that economic issues are foremost in the minds of voters, who are used to double-digit GDP growth rates.

Economic policy, Political aspects, Elections, Economic development, Presidential candidates

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The final frontier

Article Abstract:

South Korea plans to open its bond market to foreign investors in 1994. The South Korean bond market is the second largest in Asia, and offers very attractive interest rates. However, the government plans to allow such investment only on a gradual basis so as to prevent a flood of investment. Such a rush would cause inflation and raise the value of the won, thereby reducing exports. The South Korean government feels such caution is warranted, but both foreign and local investors are frustrated by such bureaucratic tampering with the market.

Foreign investments, Securities, Credit market, Credit markets

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