California Trade South Korea

A group of Korean executives sipped orange juice from glass goblets and nibbled on miniature coffee cakes at a reception hosted by Mayor Tom Bradley recently. They weren't there to announce another shipment of Hyundai cars or Korean videocassette recorders. They were part of a Korean buying mission--the third this year--which the mayor heralded as a first step in Los Angeles to help reduce the trade imbalance between the United States and Korea. So much for hype.

No executive is more keenly attuned to Asia's economic problems these days than Callaway Golf Co. Chief Executive Donald Dye, whose Carlsbad-based company has relied heavily on Asia's growing appetite for high-priced golf equipment at a time when domestic sales growth overall is slowing. As Asian economies gathered steam in the 1990s, so did sales of imported luxury items like fine wine, expensive cars, cigars and golf clubs. And Callaway scored big.

California exports to Mexico surged 25% to $5.2 billion in the first half of 1997, offsetting steep declines in the state's shipments to Japan and South Korea, the office of Gov. Pete Wilson said. Overall, California's exports edged up 2.1% to $53 billion from January through June compared with the same period last year. It was the second straight year of sharp first-half increases in exports to Mexico as that nation's economy continues to recover.

California exports to Mexico surged 25% to $5.2 billion in the first half of 1997, offsetting steep declines in the state's shipments to Japan and South Korea, the office of Gov. Pete Wilson said. Overall, California's exports edged up 2.1% to $53 billion from January through June compared with the same period last year. It was the second straight year of sharp first-half increases in exports to Mexico as that nation's economy continues to recover.

No executive is more keenly attuned to Asia's economic problems these days than Callaway Golf Co. Chief Executive Donald Dye, whose Carlsbad-based company has relied heavily on Asia's growing appetite for high-priced golf equipment at a time when domestic sales growth overall is slowing. As Asian economies gathered steam in the 1990s, so did sales of imported luxury items like fine wine, expensive cars, cigars and golf clubs. And Callaway scored big.

A group of Korean executives sipped orange juice from glass goblets and nibbled on miniature coffee cakes at a reception hosted by Mayor Tom Bradley recently. They weren't there to announce another shipment of Hyundai cars or Korean videocassette recorders. They were part of a Korean buying mission--the third this year--which the mayor heralded as a first step in Los Angeles to help reduce the trade imbalance between the United States and Korea. So much for hype.