Korea exits the developed world.

[j1j2j3]

Yes, South Korea is at the very least looking to become iffy in the following years.

Define iffy, and what that has to do with the president being pro labor or an unconfirmed chainletter or even why Japan would like to take SK's place when they are already the largest trading partner with the US.

On another front, SK's business doesn't look as bad as I've heard, although apparently a third of its loan firms have retracted their business. I don't know what that'd imply.

It means low interest rates and deflation.

And there's supposed to have been some kind of a task force created to investigate foreigners. Did something happen at the World Cup over there?

Nothing happened, we just have lots of illegal immigrants in hiding from southeast asia to the tune of more than 400,000 persons.

I see that you are spewing out unrelated comments to your original strange conclusions.

[Shinova]

I see that you are spewing out unrelated comments to your original strange conclusions.

My conclusion was that SK is messed up. So what if my new comments are unrelated? Do they somehow necessarily have to have something to do with something I've already concluded on?

[Lilith]

Oh yeah, you know that new president Korea has? Korea is going off the developed nations list in more than one way.

For example, I heard the president was pro-labor, so he's passing all sorts of stuff that help blue-collar workers but hurt business. We can all agree that to have a shot at having a good economy you need big business, right?

So while big business is being driven out and people are raising a fuss about it, the president passes more pro-labor measures and blames the media for the misfortunes happening to the economy.

President Roh Moo-hyun was a human rights and labor lawyer. He won the election after a series of major bribery scandals involving Chaebol representatives/ leaders and government officials. He is supportive of pro-labor laws. That does not necessarily mean that he is destroying the business community.

The troubles facing the large corporations are a result of a whole series of bad choices made by the companies. Especially during the 1990s, these businesses over extended--example, Hyundai the biggest car and ship manufacturer in Korea also moved into food production and so on.

Bribery of government officials to pass "business friendly laws" compounded the problem as did massive loans and lying about profits. Many have downsized and divested some of their investments to focus on areas that are more productive and profitable. Chaebols are alive and kicking although smaller than they were in the 1990s.

It is doubtful that pro-labor laws are "hurting businesses." The economy in Korea has slowed down like most of the world.