January 17, 1998 |
The economic crisis in South Korea has triggered anti-foreign sentiment that has sent sales of imported products plummeting and prompted fears among foreigners that such economic nationalism could spin out of control. Executives at U.S. and other foreign firms with long experience here say that not only have sales of their products plummeted because of the "Buy Korean" campaign, but that it has also become uncomfortable to be a foreigner on the streets of Seoul.
October 5, 1995 |
International trade lawyer Amanda DeBusk is accustomed to hearing tales of woe from the front lines of commerce. But the stories she heard recently from U.S. companies while researching the South Korean market were particularly shocking: Midnight visits to the homes of foreign executives by unhappy South Korean officials. A U.S. negotiator in a business dispute thrown in jail. Lengthy delays on the docks while imported fresh produce and foodstuffs rot in their containers.
March 16, 1995
The Republic of Korea has shown impressive economic growth over the past 25 years, largely because of a sustained program of export-oriented policies. One of the world's poorest countries only a generation ago, South Korea is now the United States' seventh-largest trading partner and the world's 12th-largest economy.
June 7, 1994 |
In 1987, South Korea's government trade organization issued a paper that tried to quell increasing fears that the nation's fast-growing economy was becoming another trade headache for the United States and others. The title: "Korea Is Not Another Japan." Ever since this East Asian tiger roared forward with spectacular economic growth built on the rubble of war, comparisons with Japan have, for better or worse, been inevitable.
March 1, 1994 |
South Korea is not what one would call motorist-friendly. In the parking lots of apartment complexes, spaces are so rare that cars are left in lanes, unlocked so other motorists can push them out of the way when they want to pull out. Most homes have no room at all for parking. Taxes make up as much as 40% of the price tag of a new car and drive the cost of gasoline to more than three times U.S. levels.
December 16, 1993 |
Prime Minister Hwang In Sung was forced to resign today to allay public anger over South Korea's decision to open its rice market, a presidential spokesman said. President Kim Young Sam accepted Hwang's resignation amid widespread criticism of the decision to open the nation's rice market as a compromise in talks for a world trade agreement. Kim named Lee Hoi Chang, head of the Board of Audit and Inspection, as his new prime minister, a spokesman said.
December 9, 1993 |
South Korean President Kim Young-sam said today that his nation will allow rice imports in order to help bring the global, multilateral free-trade talks to a conclusion. In an apologetic statement made during a special live television broadcast in Seoul, Kim said his government had done everything possible to protect the nation's 6.5 million farmers and its rice market.