Korean Economy Endures One Tough Year

In the wake of the U.S. financial crisis, Korea’s economy has faced grave difficulties similar to those that appeared in 1997, the time of the Asian currency crisis.

Measures by monetary authorities helped ease pending issues but the money has not flowed to companies. Accordingly, many Korean companies are facing financing difficulty. As the real economy suffers from the business slowdown, growth of Korea’s economy and jobs is expected to fall next year.