South Korea's dependent economy
The south Korean economy is indeed a dependent economy and a modern version of a colonial economy. Lets briefly survey some facts.
South Korea's external debt is $370 billion dollars (or $7,400 per head of population and its internal debt is $319 billion dollars. South Korea's debts are actually much higher than at the
the time of the IMF bailout in 1998.
South Korea belongs to the imperialist controlled IMF , World Bank, World Trade Oganisation ,the G20 and APEC.
It is a number of shackling economic agreements with the US and recently conclude a so called "Free Trade Agreement ". South Korea is a playground for the transnational corporations of international monopoly capitalism. Here is a by no means exhaustive or list of foreign companies in south Korea.
US-owned companies:
General Motors
Ford
IBM
Microsoft
Hewlett Packard
Exxon Mobil
Energizer
Chevron
Bank of America
Citibank
Metlife
J P Chase Morgan
Bank of New York
Coca Cola
Pepsi Cola
Johnson & Johnson
McDonalds
Burger King
Pizza Hut
Kraft
Hilton Hotels
7 Eleven
Jones Lang LaSalle
Starbucks
Japanese-owned companies:
Aichi
Casio
Kubota
Mitibushi
Tokyo-Mitsubishi UFJ bank
Sumitomo Mitsui Banking Corporation
Mizuho Corporate Bank
Toshiba
Sony
Nissan
Honda
Toyota
Lotte
NEC
Sanyo
Mitsui
Nikon
Canon
Sanrio
Fujitsu
Hitachi
Family Mart
Sharp
Sanwa
British companies:
SC First Bank
HSBC
Barclays Bank
Tesco
BP
CBRE
Marks and Spencer
ICI
German
Deutsche Bank
BASF
Netherlands
Shell
Italy
Fila
French-owned companies:
Renault
BNP Paribas
All these firms suck out billions out of south Korea every year and make the south Korean people becoming slaves of foreign Capitalists and its domestic cohorts.
