The Korea Discount and Corporate Governance: Myth or Fact?
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- Category: Corporate
For something that may or may not exist, the Korea Discount-that difficult-to-quantify markdown some economists see weighing down the Korean securities market-gets a lot of attention. Kyeong-Wong Kim, executive director of the Money & Finance and Global Economy departments at the Samsung Economic Research Institute, wants to put it to rest. According to him, the Korea Discount definitely doesn't exist. Addressing a Business Roundtable audience, Kim pointed out that those who argue for the Korea Discount often point to the low price-to-earnings ratios of Korean companies as evidence. However, Kim asserted, valuations of Korean companies only look low when compared to U.S. equity ratios.
Read more: The Korea Discount and Corporate Governance: Myth or Fact?
Investors' Roundtable
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- Category: Corporate
The Korea Society joined forces with the Korea Trade-Investment Promotion Agency (KOTRA) to present a panel discussion on investment opportunities in South Korea at the Intercontinental Hotel in New York. The overarching message of this investors' roundtable was that South Korea is the right place for foreign investment. The keynote speaker for this program was Lee Hee-Beom, South Korea's minister of industry, commerce and energy, who showcased his government's recent efforts to attract foreign dollars to the country.
The Incheon Free Economic Zone
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Optimism filled the last open spaces in the room-crowded as it was with CEOs, consultants and portfolio managers-as Ahn Sang-Soo, the mayor of Incheon, reported on the promise and progress of Incheon's Free Economic Zone. The zone consists of three new cities, in various stages of development, on Incheon's periphery-each specially built to become the center of a target industry. The most ambitious is New Songdo City, a project that is being spearheaded by The Gale Company.
AMCHAM-Korea's View of the Korean Economy
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- Category: Corporate
A panel comprised of six current and past officers of the American Chamber of Commerce in Korea (AMCHAM-Korea)-Chairman Wayne Chumley (president, Daimer Chrysler Korea); Vice Chairman Il-Young Maing (president, United Technologies Korea); President Tami Overby; Former Chairman William Oberlin (president, Boeing International Korea); Former Chairman Jeffrey Jones (attorney, Kim & Chang); Governor David Ki-Yong Kim (chairman, Cargill Korea); and Governor Chae Wook Lee (president and national executive, General Electric Korea)-led a lively discussion of the direction of the South Korean economy and the business environment in South Korea from the perspective of U.S. business leaders.
Road Map to $20,000 Per Capita GDP
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- Category: Corporate
President Roh Moo-hyun has made it his goal to reach $20,000 per capita GDP. South Korean stock market expert and CEO of International Investment Advisors Henry Seggerman thinks this goal can be achieved, but only if South Korean policymakers do some serious restructuring. South Korea's economy has been on a steady course since it emerged from the '97 Asian financial crisis, he said, but the threat of stagnation remains real and is growing every day. A punishing regime of overregulation has come along with the country's master-planned economic success.
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