Re: Korea owned by foreigners?

[k hanly <khanly@xxxxxxxxxxxxxxx>]

This used to be a big issue in the left in Canada but it doesnt seem to
generate the same interest nowadays as back in the sixties. Here is a URL
for a piece by Mel Hurtig a publisher businessman who has always been
critical of foreign (mostly US) control of Canadian companies. He claims
that 40 percent of the top 500 Canadian companies are foreign controlled but
share ownership value percentage would be much less.

http://www.monetary-reform.on.ca/archives/5h.shtml

According to statstics  Canada value of foreign owned businesses is 24% but
this factoid is not of much analytical value. Hurtig points out that almost
all of recent foreign investment -well over 90 percent-- has been for
takeovers rather than investment to create new businesses and also that
whole sectors such as the auto and chemical industry are dominated by
foreign investment.

Cheers, Ken Hanly


----- Original Message -----
From: "Eugene Coyle" <eugenecoyle@xxxxxxx>
To: <PEN-L@xxxxxxxxxxxxxxxx>
Sent: Wednesday, June 04, 2003 10:28 AM
Subject: Korea owned by foreigners?


> Today's WSJ reports that
>
> "Foreigners now own more than 34% of South Korean shares by value, up
> from just 13% at the end of 1996, the year before the start of the Asian
> financial crisis.  This is leading to friction between investors looking
> for Western-style corporate governance and Korean managers."
>
> 34% of public shares seems to me to be extremely high.
>
> Anybody know statistics for other countries?
>
> Gene Coyle