Tuesday, February 04, 2003
ROH MOO-HYUN SEEKS TO CALM THE FEARS OF FOREIGN INVESTORS. But this is easier said than done:
The result has been anti-American demonstrations, a spectacle that makes investors recoil. "Korea has been a world-class place to invest in," said Martin Pichinson, chief executive of Sherwood Partners, a consulting firm in Los Angeles and San Francisco. "They've recently destroyed it. You have a new leader speaking against the United States."
Since his election, Mr. Roh and his advisers have been trying to tone down their comments and have reached out to people like Mr. Jones to calm the waters. Mr. Roh "is interested in how foreign businesspeople feel about Korea," Mr. Jones said. "He wants to do the right thing for the economy. He thinks it's important for the government to continue attracting foreign investment."
While Mr. Roh may make headway with foreign businesspeople in Seoul, Mr. Pichinson said, it is less clear whether distant investors with little firsthand knowledge of the country will take much comfort from Mr. Roh's change of tack. "Korea has created an unstable zone," he said, and for now, he said, his advice to investors is to "do nothing" in the country.
