I’m making this statement from purely circumstantial observations. But I think my hunch could be on target.

In other words, I would be very surprised if this is resolved within this calendar year — the political factor is too important to allow it to be quietly resolved, so long as it has the potential to serve as a fulcrum just prior to election day.

You are right about that Chosun article. The writer is shamelessly trying to feed all the ridiculous fears and stereotypes that many Koreans have about foreign companies in Korea. It is disgusting, yet I think the article is a much better example of the stereotypical view Koreans have of Lone Star and similar foreign companies in Korea than the one that Robert has posted.

The Chosun writer seems to be saying, “How dare a foreign company stand up for their rights! The company should quietly take it up the butt and gratefully to the people giving it the shaft.”

http://news.chosun.com/site/da.....00965.html

From the translation of the article itself:

If they approve the sale, they risk being accused by the press, by anti-foreign investor NGOs and some lawmakers of “selling the nation.”

a.k.a. - “treason”

Many Koreans have at worst a fixed-pie way of viewing things : if a foreigner (one of “them”) makes money, that means the Korean(s) “us” had to lose money or at least lose out on making all of the money.

Many other Koreans have only a marginally better. They have a 1-sided view when it comes to trade : it’s OK for foreigners to “invest” in Korea…they just have to keep all of their investment in 우리나라. Hence, the free flow of capital only applies in one direction : in.

However, I’m hoping one day, the clear majority of Koreans will agree that a bigger pie for Korea is a bigger pie for Korea, whether the foreigner made their slice of the pie bigger in the process or not. In other words : it doesn’t matter nearly as much if your business partner profited or not as much as if you profited or not.

From what I understand, KEB very quite well under the guidance of Lone Star. Had Lone Star run the company into the ground (or at least driven down the value), defrauded the Koreans, and then pulled out, it would be completely different. However, none of that happened. KEB is much better off after Lone Star than before !

So, the complaining that Lone Star *gasp* “took more money out of Korea than it brought in !” reeks of nationalistic persecution of foreign investors.

This article begs the question “If the matter is as easy as the writer suggests, then why have both KB and DBS failed to be consummated?”

Reasonable Take on the Lone Star Saga