Won worries for Korea

Pieter van der Schaft, director of economic research at BarCap in Hong Kong said: "The only driver of growth in the second half of 2003 will be the external sector, through declining imports, with slowing demand likely to moderate corporate investment spending, notwithstanding supportive factors, such as above-average corporate capacity utilisation, record-low interest rates, rising exports and falling unit labour costs".

Van der Schaft also said the South Korean government’s policy is "curre

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