January 1995. Vol. 11, No. 1


ECONOMIC FOCUS


Korea Eases Foreign Exchange Control

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Korean Economy Forecast to Grow 7.3% in 1995

The nation is projected to run a current account deficit of US$6 billion this year, up from US$4.7 billion last year, with its trade deficit widening to US$3 billion from US$2.4 billion.

Export growth is predicted to slow down this year due to the steady appreciation of the Korean currency, the expected weakening of the Japanese yen against the US dollar and hikes in international prices of raw materials.

Exports should increase 11 percent to US$106 billion on a customs clearance basis from US$95.5 billion in 1994, while imports should grow 12 percent to US$114 billion from US$101.5 billion. The inflation rate, based on consumer prices, is expected to reach 6 percent this year, up from 5.7 percent in 1994.

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GoldStar to Supply CD-ROM Drives to Olivetti

GoldStar succeeded in developing the quadruple-speed CD-ROM drive late last year at a cost of 700 billion won. The new CD-ROM drive reads 600 kilobytes of information per second.

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Electronic Parts Exports to Top $20 bil. Mark

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Daewoo Launches Car Venture in Romania

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Sunkyong Eyes $9 bil. Investment in China

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Lucky to Build Cosmetics Plant in China

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Overseas Direct Investments Expanding at Rapid Pace

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