As much as my making a living out of Seoul may seem like a smart course of action in a relative safe harbor compared to other markets where friends and family are trying to make ends meet, I have always reminded these folks in my conversations that South Korea is heavily dependent upon exports and thereby very vulnerable to the global economy’s health.
Needless to say, the outstanding failure of government in the world’s largest economy is causing a loss of sleep for many business people in Seoul. It is entirely possible that things could turn decidedly nasty before relative sanity is regained in government and private sectors.
South Korea’s economic growth slows on weaker exports
27 July 2011