DBCK Discussion Evening 

<One Year President Park : Korea’s Economic Policies and Business Climate>

DBCK organized a Discussion Evening on ‘One Year President Park : Korea’s Economic Policies and Business Climate’ on Thursday, 20 February 2014, at the residence of Netherlands Ambassador in Seoul.

The first speaker, Mr. Simon Mundy, Financial Times correspondent in Seoul, shed light on the pros and cons of President Park’s economic policies. He thinks the future course of the Korean economy is rather difficult to predict because it hugely dependends on outside factors due to its exports (manufactured goods) and imports (natural resources). The President has made many a promise and financing them all is likely to be difficult, while her policies may not be focused enough on the long-term.The second speaker, Mr. Christoph Heider, Secretary General of the European Chamber of Commerce in Korea, examined the business climate under the current Korean government. Christoph, among others, expressed concern about the way the Korean Tax Service tries to increase government revenues by scrutinizing foreign companies in Korea. The much needed restructuring of the Korean economy is hampered by a plethora of ministries and government agencies, which sometimes have conflicting interests and contrary actions. Mr. Peter Underwood, Senior Partner at the IRC business consultancy firm, was the moderator of the evening. After a break for a buffet-dinner, a plenary discussion of some 45 minutes concluded the evening. Many of the 35 DBCK members thought the presentations and the discussion to be both most informative and very witty.