The Korea Times ran a wonderful article about how foreign banks in Korea are making profits from government initiated measures to counter the short-term loan crisis. It’s wonderful because it shows how truly fond Korea is of foreign companies doing business (and making a profit!!!!) in Korea. It really does illustrate how far this country [...]
Economy
Half Baked Energy Saving Measures
With the price of oil showing now signs of decreasing, the Korean government announced measures which they hope will save energy. Like Japan, Korea is virtually dependent on foreign oil imports, and as such, the rising price of oil has hit individuals and corporations hard.
In an effort to conserve and use less energy resources, the [...]
Korea declares War on Japan!!!!
On Monday July 14, 2008 the Japanese government started getting ready for the 2012 (2012!!!) school year by unveiling new and improved non-binding guidelines for middle school teachers and textbook publishers. This is to say, in four whole years, teachers and textbook publishers could, if they felt like it, look at the guidelines to draw [...]
Korea needs…
Innovation noun
1. A creation (a new device or process) resulting from study and experimentation
2. The creation of something in the mind
3. The act of starting something for the first time; introducing something new
Apart from the fact that a lot of money can be made, people invent and innovate because they want to make a job easier, [...]
Reserve Rumblings
The Korean won continues its slide against the U.S. dollar and there are now rumblings of insufficient foreign reserves. That’s certainly not good news for Korea. A lack of foreign reserves was also a major condition in 1997 during the Asian Financial Crisis as foreign investors headed for the door.
“With short-term external debt growing quickly, [...]