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Strategies & Market Trends : Bob Brinker: Market Savant & Radio Host -- Ignore unavailable to you. Want to Upgrade?

To: Kirk © who wrote (8984)	1/28/1999 2:03:00 PM
From: Jeffrey D	Read Replies (2) \| Respond to of 42834

Kirk/all, Koreans think their economy bottomed out last quarter. Too bad the Japanese government can't say the same. Jeff << KOREAN ECONOMY BOTTOMED OUT LAST QUARTER: FINANCE MINISTER -------------------------------------------------------------------------------- Story Filed: Wednesday, January 27, 1999 10:16 PM EST SWEOU, Jan 28, 1999 (Asia Pulse via COMTEX) -- Finance-Economy Minister Lee Kyu-sung said Thursday that the Korean economy may well have bottomed out in the fourth quarter of last year. Lee's remark came during his address in a breakfast meeting sponsored by the Seoul Economist Club. Lee, who spoke on the government's economic policy for this year said that "the latest trends in consumption and investment as well as other macro-economic indicators show that the economy might have bottomed out sometime in the last quarter or early in the first quarter of this year." "The speed of economic recovery may go faster than originally thought," he added. Lee, however, said that the level of various economic indexes may lag far behind the 1997 level in respect to the low rate of growth expectations for the global economy with high international financial market volatility and unemployment rates. Touching on business restructuing, he said that "business swaps are causing concerns of destabilizing labor-management relations." "Labor unrest will have negative impact on our international credibility, which has been recovering painstakingly," he cautioned. >>