What's Up Korea?

Welcome to my news blog. I will let you guys know the truly dynamic aspect of Korea. Please be interested and animated!

Tuesday, October 30, 2007

- Investment withdrawn by foreign companies for the last two years were 3-4.65 times more than the average for the four years from 2001. According to KOTRA, the investment outflow stood at W3 trillion and W4.6 trillion in 2005 and 2006 respectively, much higher than the yearly average W1 trillion from 2001 to 2004. A survey on the foreign companies who exited Korea revealed that militant labor and strict regulations were among the biggest hurdle in doing business in Korea.

- Kim Jong-il is reported to have highly evaluate a Vietnamese way of openenig and reform.

- The FSS is found to be very restrictive to opening data for public. According to a FSS document submitted for parliamentary audit, its information closure rate for the last four years was six times higher with 47.8 per cent than the average 7.7 per cent of other government agencies.

- A North Korean defector was arrested for setting up a paper company to seize as much as hundreds of millions of won of government subsidiary earmarked for defectors.

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