Running for cover: Koreans seek tax shelter in long-term bonds

Article Abstract:

Seoul, South Korea stimulated interest in long-term bonds in Sep 1995 by announcing a tax to begin in 1996 on bank-deposit interest. That will enable the government to drum up demand for a September issue of 300 billion won in 10-year treasury bonds, followed in December by another 254 billion won and over the course of 1996 by 1.8 trillion won in bonds. The current method of gaining excess cash, one- year monetary stabilization bonds, is proving unmanageable. The stock exchange and several companies are also responding to the new demand.

Taxation, Securities, Interest, Interest (Finance), Treasury securities

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Made to last: Korea's builders survive their own disasters

Article Abstract:

South Korea's construction industry still appears strong both at home and overseas despite a string of high-profile disasters due to corner-cutting. Overseas orders were down 53% in Jul 1995 from Jul 1994 and 31% in Aug 1995 compared to 1994 but should be up 11% for 1995. Of that overseas work, 60% is in China and Southeast Asia. In all, Asia will need $1.5 billion in infrastructure work over the next nine years. More competition is coming at home for these builders, though, as the government drops barriers to overseas companies in 1997.

Construction, Buildings and facilities

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The cost of quality

Article Abstract:

South Korea's construction industry grew sharply in 1995 and plans equally aggressive expansion in 1996, but the political fallout from high-profile disasters is reshaping the industry. A prequalification system for public- sector projects, stiff criminal sentences, and the advent of foreign competition are all significant factors. The chief aim of most reforms is to reduce shoddy construction practices, which will raise costs but also drive out most of the small companies that specialize in cheap, low-quality work.

Special Trade Contractors, Construction Trades, Building tradespeople

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