Is Korea headed for another financial crisis?
A string of economic indicators in Korea this year have worsened to levels comparable to the 1997-98 Asian financial crisis and the 2008-09 global financial crisis, raising questions on whether the country is on course for another crisis after overcoming painful shocks from the two preceding ones. For instance, there was a striking sense of deja vu when some of this year's financial statistics were released. Inflation hit 6.3 percent in July - the highest since November 1998 when it reached 6.8 percent. Also, the Korean won-dollar exchange rate closed at 1,393.7 won on Sept. 15, the highest si...
Source: koreatimes.co.kr