I was so surprised because lately if we take a look on what has been happening around .... Asia financial system still standing strong without any announcement that any of their financial institutions are facing bankruptcy or being bailout.
Here are the latest new about South Korean, Investment outflow surges close to $10 billion in Korea. (06/10/2008)
Foreign direct investment in South Korea recorded the largest-ever net outflow in the first eight months of the year, as more foreign investors and Korean entrepreneurs leave the nation in search for more business-friendly markets, the central bank's data showed yesterday.
The Bank of Korea said FDI inflow by foreign investors stood at $26 million during the first eight months of the year, the lowest in 28 years since the bank started collecting the data. FDI outflow by Korean investors amounted to $9.68 billion, marking the largest net outflow of $9.66 billion since records began.
The January-August FDI inflow plummeted so far this year, taking up only 1.5 per cent of what was invested in the local market during the same period last year, which totals $1.68 billion. The January-August FDI inflow topped $4.78 billion in 2004 but continued to drop to $2.96 billion in 2006.
Here are the latest new about South Korean, Investment outflow surges close to $10 billion in Korea. (06/10/2008)
Foreign direct investment in South Korea recorded the largest-ever net outflow in the first eight months of the year, as more foreign investors and Korean entrepreneurs leave the nation in search for more business-friendly markets, the central bank's data showed yesterday.
The Bank of Korea said FDI inflow by foreign investors stood at $26 million during the first eight months of the year, the lowest in 28 years since the bank started collecting the data. FDI outflow by Korean investors amounted to $9.68 billion, marking the largest net outflow of $9.66 billion since records began.
The January-August FDI inflow plummeted so far this year, taking up only 1.5 per cent of what was invested in the local market during the same period last year, which totals $1.68 billion. The January-August FDI inflow topped $4.78 billion in 2004 but continued to drop to $2.96 billion in 2006.
(The words of Kim Dae Jung which shook the Korean stock market during 1997 Asian Financial Crisis)
FDI outflow by Korean investors jumped 40 per cent from $6.88 billion a year earlier. Net outflow almost doubled from last year's $5.23 billion.
"A net FDI outflow means more foreign currency went out of the country. Foreign direct investment tends to be long-term and the Korean market should respond with an improved investment environment, rather than coming up with short-term solutions to liquidity problems"
I hope this is just a rumour or else if this thing turn out to be true, it will be very bad news for our Asia financial market.
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