How business, doctors and journalists prey on your food anxieties I

A D V E R T i S E M E N T 2
'asr year South
Karea's dynamic economy grew a remarkable 8.3% in real terms,
<strong>and</strong> its a owtb rate tbi year is erpected to be around 8%-so robust
that the government is trying to keep the economy from overheating .
South Korea is The world's 12rh-largesr
economic vower in terms of GNP. It is
also the world's 12th-ranked rrading
nation, with exports last year of $96 .3
billion <strong>and</strong> imports of $100 .3 billion,
constituting about 2 .4% of total world
trade . The U .S . is South Korea's most
important export market, while Japan is
South Koreas biggest import source .
Minister of Trade, industry <strong>and</strong>
Energy Park Jae Yoon forecasts that
exports this year will grow 10% <strong>and</strong>
imports 12°/0 . Despite this growing trade
deficit, the South Korean government
plans to drastically cut bureaucratic red
tape to stimulate both exports <strong>and</strong>
imports while seelung industrial <strong>and</strong>
technological cooperation with its major
trading partners, The U .S . <strong>and</strong> Japan .
On the other h<strong>and</strong>, the nation's 30
top <strong>business</strong> conglomerates, or chaebolr,
the tune of some $40
billion for new plants
<strong>and</strong> expansion of
production facilities,
up 26 .1% over
last year.
Soum Korea is
now the world's fifthranking
automobile
producer, with 2 .5 million
units a year. It ranks
the dynamos of Korean economic
development, are increas-
ing facility investment to
third in semiconductor production, after
Japan <strong>and</strong> The U .S .
Its shipyards aim to secure more than
30% of the world's total shipbuilding
orders by developing high value-added
ships <strong>and</strong> overwhelming Japanese shipbuilders
now suffering &om The ven's rise .
South Korea also ranks sixth in the
world for production of crude iron, with
33 million tons a year, while ranking fifth
in ethylene production .
South Korea formally applied in
March to join the Organization of
Economic Cooperation <strong>and</strong>
Development (OECD) in 1996, so it is
trying to accelerate the opening of its
financial markets <strong>and</strong> liberalization of
capital movement-two important
requirements for OECD members .
South Korea believes it is qualified to
join the prestigious club of the advanced
countries, since its per capita
GNP will surpass the
$10,000 mark this year .
As South Korean
President Kim Young-
Sam set globalization
as the foremost
national goal for this
vear, we inte rv iewed
the countra's eight
leading chaeboL leaders
about their <strong>business</strong>
strategies for
further growth .
20466'7335~9
http://legacy.library.ucsf.edu/tid/agf97d00/pdf