Sunday, March 30, 2003
FORECASTS FOR THE SOUTH KOREAN ECONOMY ARE DOWN (AGAIN) TO BELOW 5%
Indeed, consumption and exports, the twin pillars of Korea's economy, both show signs of flagging. Spending at department stores nationwide is showing signs of fatigue, after the government tightened consumer-lending rules and overseas demand are slowing due to a cutback on investment because of the war in Iraq.
