P.M. BRIEFING : More Foreign Firms Quit Seoul
More foreign companies have withdrawn from South Korea in the first nine months of this year than in either of the last two years, a government report said today. It attributed the development to the nation’s economic slowdown and unfavorable labor and management conditions.
A Finance Ministry report said 30 foreign firms withdrew in the first nine months this year. The report said 28 foreign investors left South Korea in 1989 and 19 left in 1988.
Many of the foreign companies leaving South Korea have sought business in the European Community and East European countries, the report said.
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