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_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/_/ Monthly Report May 16, 2001

Threading monthly news._._._._._
._._._._._into historical trends trends


In this issue:

-- Featured Articles --

Scourge of the Chaebol
Epic fall of a South Korean Colossus
GM's revival plan for Daewoo may be lifeless
117 Years from Mail to High-Speed Internet
Financial Crisis and East Asian Development Model
KSE, KOSDAQ, KOFEX Likely to Be Consolidated
Firebombs, CNN and the World Cup
Corruption, Refined Over 100 Years
The Bush Administration and the Korean Peninsula
The Economics of Korean Reunification


Dear Readers,

The Korean Report is a free of charge newsletter containing and linking to top stories focusing on Korea. Designed to inform and educate our audience on the trends of the Korean Peninsula.

Our website, is simply the best place on the web to find all of todayís Korean news and resources. Our editors aggregate news stories related to Korea on a range of topics from hundreds of web-based news outlets.


-- Scourge of the Chaebol --

"How a soft-spoken, orchid-growing professor became South Korea's most audacious shareholder champion. In his wire-rimmed spectacles and nondescript suits and ties, the studious-looking Jang Ha Sung could be any professor at Korea University's College of Business Administration. At night this mild-mannered soul nurtures orchids on his apartment balcony. "The orchid is very restrained, controlled and patient," he says in a soft voice, as if perhaps describing himself. "But when it blooms, the smell is beautiful and so sweet. Just one blossom permeates the whole house."
- Institutional Investor Online


-- Epic fall of a South Korean Colossus --

" Kim Woo-choong was always proud of his resume: entrepreneur, global strategist, role model, philanthropist. From humble roots, as a newspaper delivery boy, he built Daewoo Corp into a global behemoth that at its height employed 320,000 people and accounted for up to 10 per cent of the South Korean economy. Now he can add another title: international fugitive." ñ Melbourne Age


-- GM's revival plan for Daewoo may be lifeless --

"After months of waiting, South Korean creditors expect General Motors to announce its plans for bankrupt Daewoo Motor soon, but analysts warned that lenders might not like what they hear." ñ Economic Times


-- 117 Years from Mail to High-Speed Internet --

"We are living in a world where people enjoy games through the wireless Internet and send e-mail instantly to relatives on the other side of the earth. Satellites let us watch television no matter where we are, and guide us to our exact destination. Surrounded by this flashy content, we often forget about the telecommunications infrastructure that makes our information age possible." ñ


-- Financial Crisis and East Asian Development Model --

"After Asia was struck by a series of foreign currency crises, government officials, academia and international organizations from the West at once spurned their past positive evaluation of Asia's economic development and denounced the Asian development model. " ñ Korea Times


-- KSE, KOSDAQ, KOFEX Likely to Be Consolidated --

" The government is pushing ahead with the consolidation of the three stock markets, the Korea Stock Exchange (KSE), KOSDAQ and Korea Futures Exchange (KOFEX) into a single entity. " ñ Korea Times


-- Firebombs, CNN and the World Cup --

" Before I came to this country, the only things I knew about Korea were the Korean War, the division into two countries, the major presence of U.S. soldiers, and the aggressive demonstrations of the unions and students that could be seen on CNN. Most of the images about Korea were wrong and negative, as they were mostly influenced by mass media. I found from talking to foreigners who work in Korea that they, too, had these stereotypes before coming to Korea." ñ


-- Corruption, Refined Over 100 Years --

" A British visitor's observation of corruption in the Choson dynasty still holds up today." ñ


-- The Bush Administration and the Korean Peninsula --

"The Bush administration faces challenges from allies and adversaries alike in East Asia. The recent submarine incident and rising anti-bases sentiment in Okinawa have put the US-Japan ìspecial relationshipî on rocky ground. The war of words with Beijing over human rights and its relations with Iraq suggests that the Bush teamís downgrading of China to the status of a ìstrategic rivalî has already accentuated lines of division in the region.î ñ Peopleís Korea


-- The Economics of Korean Reunification --

" Last June, South Korean President Kim Dae-jung journeyed to North Korea to meet with that countryís leader, Kim Jong Il, in a move he hoped would begin a process leading to better relations with North Korea, and eventually to Korean reunification. The meeting was considered a success. Since then, Kim Dae-jung has won the Nobel Peace Prize. And more importantly, the two countries have forged closer ties: the rail lines between the North and South have been reconnected, economic relations have strengthened, and some families separated some 50 years by the Cold War have reunited.î ñ AsianWeek


For all your news on Japan visit


Peyton Trent Collie
Vice President - NewsOnNetworks

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