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To: Lee who wrote (75807)	10/30/1998 3:34:00 PM
From: Mohan Marette	Read Replies (2) \| Respond to of 176387

<South Korean economy>Is the crisis ending? Hi Lee: Second best news I heard all day. =============================== Source:Excerpts from Bloomberg Top News Fri, 30 Oct 1998, 1:06pm EST Korea's September Industrial Output Rises; Raising Hopes Crisis Is Ending Korea's Sept. Industrial Output Rises, 1st of 1998 (Update2) (Rewrites first two paragraphs.) Seoul, Oct. 30 (Bloomberg) -- South Korea's industrial production in September rose 0.3 percent from a year earlier, the first increase this year, fueled by semiconductors and transportation equipment such as oil tankers. The gain raised hopes the worst of the economic crisis will soon be over, though some analysts and company executives said talk of a recovery may be premature. Industrial production jumped 10.9 percent from August, ending an eight-month decline, the National Statistical Office said. Compared with a year earlier, semiconductor output surged 72.0 percent, and production of transportation equipment including oil tankers and other ships rose 30.7 percent. ''We see green lights in our chip business environment,'' said James Chung, a spokesman at Samsung Electronics, the world's largest memory chip maker. ''We're beginning to see a shortage in certain products and some global PC makers are trying hard to secure stock. We're cautiously forecasting full capacity utilization in November.'' The turnaround, after output dropped the previous eight months by an average 8.9 percent from year-earlier levels, was due in part to there being three more working days this September than last year. The surge from the previous month reflected in part resumed output after a strike in August at the country's biggest automaker, Hyundai Motor Co., the NSO said. The International Monetary Fund and South Korea said yesterday the shrinking economy will start growing next year. The scope and timing of any recovery will depend on a pick-up in domestic consumption and external events such as the economic situation of Japan, Korea's second-largest trade partner after the U.S. The yen has strengthened 18 percent against the dollar in the past month, helping boost Korean exports by making them cheaper. South Korea is trying to export its way out of its worst recession since the 1950-53 Korean war. The main KOSPI index staged its biggest rally in more than two weeks, rising 3.90 percent to 384.75 points. ''Too Premature''......