Safety net frays: South Korean authorities may turn blind eye to corporate collapse

Article Abstract:

South Korean clothes retailer Nonno's bankruptcy hurt almost two dozen foreign financial institutions. Foreign bankers were lured into providing loans to the retailer, which is comprised of 1,000 stores nationwide, viewing it as a profitable venture. However, South Korea's economic downturn and the decline in winter clothes sales along with unproductive real estate speculation, brought the retailer down. The government is showing signs of abandoning the retailer to its financial troubles to serve as a warning to other speculators.

APPAREL AND ACCESSORY STORES, Foreign bank & branches & agencies, Finance, Clothing industry, Foreign banks, Nonno

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Farming follies: South Korea weighs sweeping land reform

Article Abstract:

South Korea is mulling an extensive land reform package that is intended to generate economic benefits. The politically powerful but largely inefficient farming sector is sure to react not too favorably to the planned changes. The government would encourage the formation of bigger farms that would mean the increase in the limit of farm size from three to 20 hectares. Repercussions of the planned policy are reduced costs, increase in the living standards of consumers and greater competitive power in international trade.

Land reform

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Control freaks: South Korean firms challenge business as usual

Article Abstract:

Businesses and the government in South Korea furiously charge each other with crippling the economy despite record profits and GDP growth forecasts of 8.3%. Many companies, especially the large chaebol, say government regulations and bureaucratic restrictions strangle their expansion. They and many academic experts call for liberalizing the financial system and opening the economy to foreign competition. The government points to record numbers of bankruptcies and says the chaebol are too indebted and inefficient.

Political activity, Corporations, Industry regulations, Government regulation of business, Trade regulation, Corporations, South Korean

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