Odds and Ends 15/12/09

by Robert Koehler on December 15, 2009

KOTRA has released a report that interviews fuzzy foreign CEOs about doing business in Korea. More on Korea’s brand ranking here.
The Korea Discount continues: “Science and technology and celebrities are the sectors where Korea fails to secure the respect the nation deserves by the biggest margins, according to a survey by Samsung Economic Research Institute (SERI) and the Presidential Council on Nation Branding.”
Ooo… more Jessica Gomes. And the body is apparently kimchi-powered.
Is North Korea backtracking on its currency reform in the face of public outrage? And even if it is, is it worth mentioning before Jessica Gomes?
Well, I guess knocking down historic buildings and neighborhoods hasn’t been a complete loss.
More multiculturalism stuff.
Note to Australian Open: Always check the damn flag.

{ 15 comments… read them below or add one }

1 Sperwer December 15, 2009 at 3:21 pm: The foreign business community has been complaining about the same things for the fifteen years that I’ve been here. Apparently, below the frou frou hype level, nothing changes. How much longer is this going to go on, before people wake-up. My prediction is that in the absence of another crisis, the changes that matter will continue to be ignored and real foreign investment and involvement in Korea – particularly new investment, will stagnate or decrease, and Korea will continue to fail to make up ground against more advanced economies, particularly as China becomes less and less willing to act as Korea’s bitch in the tech transfer game. Not necessarily bad news for the Korean plutocrats and their servitors, but really bad news for everyone else.
2 Minjokjuuija December 15, 2009 at 3:36 pm: Korea will do fine. Korea’s oligarchs do a much better job serving Korean interests than America’s oligarchs do serving American interests.
3 cmm December 15, 2009 at 4:24 pm: Jessica Gomes and her video:
http://keywui.chosun.com/contents/103/6/view.keywui?mvSeqnum=141175
4 Sperwer December 15, 2009 at 4:31 pm: Korea will do fine. Korea’s oligarchs do a much better job serving Korean interests than America’s oligarchs do serving American interests.

Not when America’s oligarch’s stop indulging them.
5 WangKon936 December 15, 2009 at 4:36 pm: Australian, this is inexcusable. You guys are sorta in Asia…

Time to impose non-tariff barriers on hoju beef in protest…
6 WangKon936 December 15, 2009 at 4:38 pm: cmm,

It’s more enjoyable with the volume turned down… where you don’t have to hear her blabbering on and on about her yoga thingy…
7 Minjokjuuija December 15, 2009 at 4:50 pm: Not when America’s oligarch’s stop indulging them.

It’s called a “trade.” Quite a different thing from “indulgence.” America’s financial oligarchs gut American industry and greatly centralize assets; Korea manufactures and exports to the US and recycles receipts back into the US financial system. America’s oligarchs have profited handsomely from this arrangement; the fact that the American middle class has been eroded and that ordinary Americans’ interests were ignored and not considered is not Korea’s fault. It’s the fault of American oligarchs.
8 Sperwer December 15, 2009 at 5:21 pm: Well, the US has consistently offered Korea concessionary (often in the early days extraordinarily concessionary) trade terms since 1945, although they have gotten less concessionary as time has gone on. The last clause is right, but it’s not going to continue much longer. General Sharp tolled the bell the other day when he announced that all of USFK would be available for assignment outside Korea. Despite the usual precatory stuff about consultations and not weakening Korea’s defense posture, this is important, especially coming as it does after a few years of “warning orders” about it, and despite the recent protests of a Korean administration seen as (relatively) favorable to the US when the trial balloon was floated a few weeks ago. Korean taxpayers better get ready to fund big increases in the Korean defense budget.
9 Minjokjuuija December 15, 2009 at 5:50 pm: Yes, I am fully aware that it is unsustainable. I do believe that Koreans should shoulder the national defense burdens. Ultimately it is not good for both America and Korea to have the American military perpetually defend Korea; a few, narrow interests benefit and larger groups like the American middle class lose out. It is only right that Korean taxpayers should fund Korean defense. Also it is not just American citizens and taxpayers who have paid for the American military. Foreign (non US) nations that exported to the US, recycled receipts back into the US financial system, bought dollars, were in effect “paying for it” to a degree by financing US deficits and supporting the dollar.
10 R. Elgin December 15, 2009 at 6:28 pm: Per the Joongang Ilbo:

“Builders should design their buildings after archaeological inspections and excavations are completely finished, but we are doing the exact opposite,” said Hwang Pyeong-wu, the chief of Cultural Action and head of the Korea Cultural Heritage Policy Research Institute.

Greece has laws that mean before any building can commence, an archeological survey is done and, only after that, is building done.
11 R. Elgin December 15, 2009 at 6:32 pm: P.S. Robert’s shot of the Jeondong Cathedral came up on the flickr link. I hope you shoot this site some more Robert; it’s really a nice place.
12 Robert Koehler December 15, 2009 at 7:41 pm: Yes, it’s a very beautiful spot with a lovely rectory, too. Unfortunately, last time I was there it was undergoing restoration. Need to make it down there again soon.
13 vince December 15, 2009 at 8:02 pm: Re: Korea’s oligarchs do a much better job serving Korean interests than America’s oligarchs do serving American interests.

Yes, if the interests being discussed are regular citizens this is a very true statement. The culture of the US is very focused on the individual and has perverted the concept of meritocracy to the point where golfers and basketball players become billionaires, and CEOs who’s companies are on welfare award themselves millions in compensation. The US is exceptional.
14 Wedge December 16, 2009 at 1:35 pm: Every year I get these KOTRA surveys and every year I click the same answers and make the same comments out of the belief that some day, yes, some day here in Korea, they will be acted up– [dragged off by the men in the white coats, clutching keyboard]
15 lollabrats December 16, 2009 at 2:18 pm: How anyone can suggest marketing Ban Ki Moon as one of Korea’s leading international celebrities is beyond me. Samsung employs many smart men, but if the Korea Times “Discount” article is correct, Samsung researcher, Lee Dong Hun, is making a suggestion highly unaware of the level of respect Secretary-General’s has won around the world–including within the ROK. It is absolutely impossible for Mr. Ban, seemingly a man of good intentions, to raise Korea’s brand index scoring.

Kim Yuna is the first and still only Korean in history, who has the potential to garner contemporaneous mass appeal outside of the east-Asian and Pacific regions. In general Korean celebrities have value only in east Asia (and possibly Iran? :p ). I admit that, not having read the report, I am merely assuming when I say that the SERI report likely makes unsubstantiated claims on the value of Korean celebrities outside of the region.