Korea’s self-defence

Korean markets have suffered as global investors have run to safe havens, but the economy is likely to prove resilient.

Korea’s heavy reliance on exports, which account for half of its economy, and the openness of its capital markets make it particularly vulnerable to external factors. In addition, structural weaknesses could threaten the resilience of domestic demand and attitudes, which President Lee Myungbak has recognised.

“When it comes to the economy, the psychology of the people also matters.

Indeed some people refer to the recent crisis as a crisis of confidence. In order to overcome this crisis of confidence, we need to have confidence in ourselves,” Lee told his audience in a bi-weekly radio address to the nation on October 3.

...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222