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Satisfied with Prompt Processing…Discontent with Transparency

Satisfied with Prompt Processing…Discontent with Transparency

Posted May. 31, 2002 08:49,   


▽`Korea is the central target of foreign investment in Asia.` = German BMW chairman Helmut Panke said, “Asia is typical developing region, and Korea is the most important country where few can expect long term success by direct investment. Korea is leading group in Asian market attracting 3rd most foreign direct investment to China and Hong Kong in 2000. ”

French Vivendi Water CEO Olivier Barbaroux said, “we invested 380 billion won after the foreign exchanged crisis, as we believed the reform policy of Korean government to attract the investment of Social Overhead Capital (SOC). ”

CEO of French Lafarge Gypsum Asia Nicola Pugnie said, “it took less than 6 month for us to take over 2 factories from Dongbu and Byucksan for 100 million dollars in January 1998. Quick processing was possible through the support of the governmental institutions, and few countries can make it possible to succeed double contracts for over 100 million dollars within such a short term. ”

Proctor and Gamble (P&G) Korea CEO Al Rajwani valued, “Korea has lots of advantages for attracting investment for example, △ location in the center of Northeast Asia, △ high economic growth rate, △ good domestic consumption, △ strong will to work, and △ political stability and pro-reform government.”

▽ Still long way to go = Robert Richard managing director in S&P urged, “thanks to the government’s progressive economic policy, Korea could overcome the foreign exchange crisis. Being in the halfway of reform, next government should continue to sell state estates including state-run banks and to open additional markets. ”

He stressed, “Korea can be the center of economy in Asia when policy and regulation become transparent from relying on the arbitrary judgment of the government. ” He meant that the correct information should open at proper time.

Volvo Construction Equipment Korea CEO Eric Nielsen pointed, “the problem to solve is mature relationship between labors and management, stable and predictable regulations of the government, and social securities to strengthen the flexibility of labor market. ”

Ja-Ryong Koo bonhong@donga.com