Due to circumstances beyond our control (but chiefly the shortage of meeting rooms in major hotels in the post Covid surge plus the seasonal rush) the December session will only be on line it is also on a Wednesday and not our traditional Thursday.
The title chosen for the last session of 2022 sounds rather bland. However it is important to discuss how Korea has evolved in 12 months as a springboard for the discussion of 2023. 2022 has been a year of geopolitical and geoeconomic headlines and of domestic policy changes and of hidden movements in the economy.
- War in Ukraine
- Slowdown in China
- Fed’s approach to fighting inflation
- US protectionist measures against China ( adversely affecting Korea)
- Post election shift in government from Moon to anything but Moon and technocrats being replaced by ex Prosecutors
- Shift in government financing
- Household debt
- Frozen real estate market
- Near frozen finance market from October
In the process the Korea of January 2022 we were living in has changed sometimes obviously and sometime subtly and I propose to use the December session to reflect on this.
To help us on one point we will be joined by Kang Min-joo from ING bank to explain her distinguished work on household debt which we have not covered for a while. I hope as many of you will join us to help us understand how the Korea of January 2023 has changed from the Korea of January 2022 and what this means for our business going forward in the new year.
Tony Michell Ph.D
Managing Director, KABC Ltd.