Home > United Nations Online Network in Public Administration and Finance (UNPAN)
1. Global
Global
2. Africa
Africa
3. Arab States
Arab States
4. Asia & Pacific
Asia & Pacific
5. Europe
Europe
6. Latin America & Caribbean
Latin America & Caribbean
7. North America
North America
UNPAN Asia & Pacific




Public Administration News  
Share
S. Korean Economy Starts Structural Reform
Source: world.kbs.co.kr
Source Date: Thursday, August 09, 2012
Focus: Electronic and Mobile Government, Citizen Engagement, Internet Governance
Country: Korea (Republic of)
Created: Aug 14, 2012

The South Korean economy is under going structural reform amid the euro zone debt crisis and worsening global economic slowdown.

Financial institutions and listed firms are implementing contingency measures such as layoffs, workforce integration, and asset securitization to boost liquidity.

According to financial institutions and listed companies on Thursday, firms are putting those measures in place regardless of industry or scale.

The shipbuilding, shipping, steel, petrochemical and telecommunication industries, which are the main pillars of the country’s economy, are suffering from lackluster business with their exports declining by 20 to 60 percent last month compared to the same period a year earlier.

The domestic construction industry, which was directly hit by the economic downturn, is not an exception.

Some construction firms have already laid off hundreds of workers, while others are selling off shares or assets of affiliates to secure liquidity.
News Home

 Tag This
 Tell A Friend
 Favorite
del.icio.us digg this Slashdot
Rate:
0 ratings
Views: 16

Comments: 0 Favorited: 0 Bookmarked: 0 Tagged: 0



0 Comments | Login to add comment

Site map | FAQs | Terms and Privacy | Contact Us
Copyright 2008-2010 by UNPAN - United Nations Public Administration Network