Largely thanks to how the Korean government restructured and reformed itself in the wake of the 1997-98 economic crisis, the ROK has done better than many other countries at riding out THIS economic downturn.
But even if Korea Inc's fundamentals are strong, any country that relies on exports to countries in recovery (e.g., the US) or panic mode (e.g., the EU) is going to be hurting.
So it seems natural that Seoul would have to employ a stimulus like this one. And I, for one, will not complain about my mortgage ticking down 25 points.
This succinct email was sent from my iPhone.
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