Barings talks up Korea economic prospects

The asset management group is bullish on Korean prospects, saying it should be looked at in the same way as the BRIC countries – Brazil, Russia, India and China. Barings says although Korean economic growth slowed between 2003 and 2005, the economy has now turned a corner. It also noted tensions between North Korea and South Korea were easing, with trade between the two expected to top $1.7bn in 2007. Baring Korea trust manager Hyung Jin Lee says the country is “making just what the world needs”. "As the largest shipbuilder in the world, Korea has seen a surge in orders from the Middle ...