Korea is suddenly a Wall Street saviour , with everyone from Lehman to Merrill trying to scare up capital there. Why is Korea sitting through these pitches? Because America’s conducting what amounts to a going-out-of-business sale!
Portfolio: What does Korea see that the rest of the world doesn’t? Perhaps Korea Asset Management’s Lee Chol Hwi put it best in an interview with Bloomberg: “The U.S. market desperately needs capital. It’s practically a buyer’s market there.”
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