The Hyundai E&C Fiasco: Doesn't Anyone Remember 1997-98? (update 1)

Hasn't the South Korean Economy Already Been Down This Road???  Yikes.
Today, as expected, Hyundai Motor Group was named as the preferred bidder for Hyundai Engineering and Construction.  The JoongAng Ilbo had earlier reported on the Hyundai Group's potential lack of funding for a purchase of Hyundai E&C.  In August 2010, Hyundai Group announced its intent to bid for Hyundai E&C.  There were suspicions that the Hyundai Group did not properly secure funding for its bid.  As a result, the Financial Supervisory Service (FSS) has now approved Hyundai Motor's selection as the preferred bidder.

Studying Japanese? Stop Wasting Your Time. Now.

The Seoul Gyopo Guide is meant for many things, and here are the most important.
a.  Inform non-Koreans about brilliant Korea, and the amazing things that have been, are being, and will be accomplished by Korea.
b.  Help native Koreans understand how to adapt to a world outside Korea, which will be necessary in order for Korea to continue its ascent.
c.  Point out how Korea's legal and social structure must evolve to match its economic development.

One bias amongst Koreans that has existed as a result of the oddest combination of animus and envy, combined with convenience, is Koreans' continual study of the Japanese language.  This is a complete waste of time.  The Seoul Gyopo Guide has suggested, almost begged, native Koreans to stop this.  English is much more important, and you can make the case for Mandarin.  The many reasons are summarized here.

S. Korea Takes a Step Backwards by Levying a Tax on Foreigners' Bond Holdings

South Korea Needs to Decide:  Developing or Developed? 

When the Last Sword Is Drawn

You can be free. You can live and work anywhere in the world. You can be independent from routine and not answer to anybody. This is the life of a successful trader. - Alexander Elder - Trading for a Living

I don't write about my job very much; it's usually not relevant to my Korean experiences I document here. Occasionally though, the two worlds do become intertwined.

Japan Promotion Agency

Have your own office in Japan from today

 If you’re thinking of getting your business to Japan, you may want to start with a rep office first, a wise cost-saving solution, before deciding to setup your own office.


We offer extremely reasonable representative office services for foreign businesses seeking market presence in Japan. Our agency is based in Tokyo.


Our clients range from individual entrepreneurs to incorporated companies.


Radio Active

"One’s destination is never a place, but a new way of seeing things.” – Henry Miller

About once every two months I'm approached to write for a magazine, do a radio show or appear on TV, just because of this blog. Why? I'm not really sure. It's probably a similar story for the other foreign bloggers in Korea. Sometimes it seems people here desperately want to know what we think about Korea – although the vox populi vox dei (semper insaniae proxima) is the sword that potentially hangs over us if what we have to say veers too far off-script.

Here’s another target for Dokdoisours.

Satirical blog Dokdoisours has had a lot of fun with the Korea Times.  The Times’ is infamous for it’s poor editing .

The Korea Herald is a little more professional but is trying a new advertising technique.  Oh, I wrote new, but I first noticed it a month ago or so.  They hyperlink more or less random words in their articles.  Let’s see if the links are visible -broken or not- after I paste:

Ubiquitous access to my email account has cut down a lot of unnecessary time spent looking for the Internet, and it also helps me take care of necessary business more promptly,” Lee said.

Aquatic House Party

"Our department store is turning into an amusement park."

Stem Cell

"We don't have a contingency plan, because it's not likely to happen". - Anonymous Korean Stem Cell Company Representative.

Before we went to the BEXCO Baby Fair, my wife broached the subject of umbilical cord stem cell harvesting with me. Apparently the idea was that if the cells were harvested from the cord blood and stored, our child would potentially have a better chance of recovery from future diseases such as diabetes and blindness, and eventually also problems that would benefit from a regenerative medical solution, once technology allows.

Convicted criminal returns to job

Lee Kun-hee resigned or otherwise left (see below) his position as Chairman of Samsung and soon afterward went to jail as a result of his actions while running Samsung.  In a move fairly typical Korean justice with chaebol leaders, he was soon pardoned (the surprising thing is that he spent any time in jail at all).

He was released in February and will soon return to work in the same position at the same company that he broke the law in previously. Part of the reason for his pardon was his previous work on the International Olympics Committee.

He’d better bring the Olympics to Korea!


Different papers describe the way he left Samsung (my bolding):

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