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Strategies & Market Trends : Asia Forum
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To: Stitch who wrote (3836)5/24/1998 10:03:00 PM
From: MikeM54321   of 9980
 
Stitch,
How about South Korea? Lately, for some reason Korea has been out of the news. They still seem to be in a downward economic spiral. I think Indonesia took the spotlight off of them. And I think everyone is forgetting there is/was a big strike planned this week. This seems like an accident waiting to happen. I think it's on, then off, then on. I believe it's "on" now. No one strikes like the Korean unions. And I believe this upcoming protest strike is by one of the more militant unions. It is almost as if the unions and Kim Dae Jung (sp?) are sparring with each other now. Hard to tell who is going to win. I believe Kim Dae Jung is doing the best he can to explain the troubles to the people, but I don't think some of the unions are listening.

Korea is a big importer of American high tech equipment. In both telecommunications and semiconductors equipment areas.
MikeM(From Florida)

PS Here's why the Union is striking. From the Choson Ilbo (daily newspaper):
>>Unemployment Hits 1.4 Million
The National Statistics Office (NSO) announced Friday that the number of unemployed reached 1.4 million at the end of April, up 506,000 from March and 2.5 times the average for last year. This figure puts the jobless rate at 6.7%, the highest in over twelve years. During the first four months of the year unemployment has jumped 776,000.<<
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