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Technology Stocks : Cymer (CYMI)
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To: BillyG who wrote (9779)11/15/1997 5:33:00 PM
From: Zeev Hed  Read Replies (1) of 25960
 
Billy, those Korean have a little problems facing reality. In the last year 7 out of the 30 largest Korean conglomerates filed CH 11 or worse, putting at risk some $28 Bill in bank assets that needs to be written oof (Chemical just wrote off a little $200 MM out of this). Our of $200 Bill in outstanding debts to the banks in Korea a full 20% are classified as non performing, and that is just a "small financial" rpoblem. It will take a good 18mmotnhs before Korea gets back to positive growth in their GDP and and much longer before they get to actual 5% growth or higher.

Zeev
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