'Is Korea desperate enough?'
The streets of Seoul are already bright with colorful lights and decorations for Christmas. Splashes of red and green and the glitter of small lights create a sense of abundance and festivity. The celebratory ambiance sits uncomfortably, however, here in the capital of one of Asia's export powerhouses. Korea has enjoyed a stellar export rally this year, yet the benefits have yet to materialize as…
Seoul's streets are adorned with festive lights for Christmas, creating a festive atmosphere in South Korea's capital city. Despite enjoying a strong export boom this year, the country's citizens still struggle with rising living costs. Industry Minister Kim Jung-kwan expressed concern over the economic disparity during a recent trip to China.
Upon returning, he posted on Facebook, questioning whether South Korea is "desperate enough" and if it's doing enough to support its industries, as he observed China's rapid development. A Chinese businessman he met during the trip inquired about the excessive support from the Chinese government to its industries, prompting Kim's post.
As one of the key ministers involved in a $350 million project, Kim's comments have drawn attention to the widening economic gap in Korea.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 1 other outlet
- 'Is Korea desperate enough?' koreatimes.co.kr
