Korea

As money floods in, Asia's central banks are finding they cannot have free capital flows, controlled currencies, and moderate interest rates at the same time

http://www.info.gov.hk/gia/general/200903/24/P200903240266.htm

CE's speech at luncheon of Credit Suisse "Asian Investment Conference" (English only) (1) (with photos/video)
***********************************************************

Published: October 6 2008 09:39 | Last updated: October 6 2008 12:07

S. Korean banks struggle to raise dollars

On the basis that public funds seem to be going into banking systems in broadly alphabetical order – starting with America, Belgium, Germany and last week moving to Iceland and Ireland – it looks like time up for Korea. And right on cue, Asia’s fourth biggest economy is exhibiting signs of panic. On Monday, Korea’s finance minister urged banks to sell overseas assets to raise foreign funds and promised them access to the country’s foreign exchange reserves. Short term funding rates jumped to a seven and a half year high, while the won, one of the world’s worst performing currencies, fell a further 5 per cent against the dollar.

Family-owned business is never a problem in U.S. or Europe..... Grow up!!!

LG Group provides a classic example of how South Korea's mighty chaebol grew from small family businesses into some of Asia's largest conglomerates.

......LG last month completed its adoption of a holding company structure designed to make the relationship between the group's 34 subsidiaries more simple and transparent.