Deputy PM: next 3-4 years last chance for S. Korean economy

February 26, 2014 Leave a comment

Deputy PM: next 3-4 years last chance for S. Korean economy

2014.02.19 16:37:20

South Korea needs specific action plans in order to improve economic fundamentals, noted Deputy Prime Minister and Finance Minister Hyun Oh-seok, adding the next three to four years will be the last chance to determine whether the nation’s economy will take another leap forward. 
At the meeting with ministers in charge of economic affairs at the Sejong government complex Tuesday, Minister Hyun said, “in order for our economy to take another leap forward, we should make efforts to markedly improve our economic fundamentals,” noting, “but time is running out. The next three to four years may be the last opportunity for our economy.”
Each country is joining the `innovation race` to gain an upper hand after the global financial crisis including Japan’s Abenomics and economic structural reforms by China, the US and Europe. So now is time to kickstart efforts to take the nation’s economy to the next level, but things are tough, Hyun’s logic goes.
Minister Hyun said, “voices are growing within us that economy is off balance. This is because firms that should buttress economic growth are sagging our economic vitality after being indulged in lax management. And the nation’s economic growth is centered on export and manufacturing industry, widening the gap between domestic and service sectors.”

Filed under Macro Trends

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Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (www.heroinnovator.com), the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

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