Do some research on the currency and banking situation in South Korea. We normally think of currency and banking risks as being something confined to third world or developing countries. But events in the past few years such as the Euro crisis or the financial crisis in the United States have shown that not even wealthy, developed countries are without risks on the financial side. So, it is important for any company doing business in South Korea to carefully consider the risks that they face. After you’ve done some research about financial issues in your country, write a 3-page paper covering the following issues: (1) The currency of South Korea: Is it stable? Does your country have fixed or floating exchange rates? Does the exchange rate fluctuate a lot? (2) The banking system in South Korea: How safe is this system? Any recent banking crisis in your country? (3) Overall, does the financial system in South Korea make it easy or difficult to do business? What kind of steps would you recommend for a company doing business in your country to hedge or minimize its financial risks? Refer to at least one of the required readings from the background materials in your answer. SLP Assignment Expectations Answer the assignment questions directly. Stay focused on the precise assignment questions. Don’t go off on tangents or devote a lot of space to summarizing general background materials. Make sure to use reliable and credible sources as your references. Articles published in established newspapers or business journals/magazines are preferred. If you find articles on the internet, make sure they are from credible sources.
(1) The currency of South Korea: Is it stable? Does your country have fixed or floating exchange rates? Does the exchange rate fluctuate a lot? (2) The banking system in South Korea: How safe is this system? Any recent banking crisis in your country? (3) Overall, does the financial system in South Korea make it easy or difficult to do business?
