And to tell us more about the recent global market sell-off,... as well as the economic
impact of the Pyeongchang Winter Olympics,...
Professor Yang Jun-sok from the Catholic University of Korea... joins us in the studio today.
So good to see you.
Happy to be here.
1.
Although some markets in Asia recovered ground today on the back of Wall Street's recovery....
this week did start off with a major downturn in the Dow Jones....
as the index saw its biggest percentage drop in six years on Monday.
What happened here?
2.
And this plunge, as we know,... sparked major sell-offs on Asian and European markets on
Tuesday, right?
2-1 But going back to today...
the KOSPI fell by over percent today.
With that
how did markets do here in Seoul and across Asia?
3.
Some say that this global market rout indicates that we need to brace for a collapse of the
current market bubble.
What are your thoughts on this?
4.
What’s interesting though is this surging bout of market volatility came as U.S. Federal
Reserve Chair Jerome Powell was in his first day in office.
Could this have had an impact on the stock plunge?
5.
There were also reports that the latest market fall was partly driven by fears the U.S. Fed
will raise interest rates faster than expected this year... due to a pick-up in wages.
What can we expect on this front?
6.
Back here... on Monday...
Samsung heir Lee Jae-yong had his jail term suspended, and was released in an appeals
trial.
How did this news affect Samsung shares?
7.
And with the Pyeongchang Winter Olympics opening
its doors on Friday...
how much of an economic impact will the Olympics have on the Korean economy?
8.
With North Korea also participating in the Winter Games,... do
you think this will affect South Korea's credit ratings....
as risk factors from the North have been somewhat eased, at least for
the time being.
9.
But there are concerns that South Korea could end up in
debt after the Games because we have seen host countries in the past that have overspent,
resulting in financial troubles that took years to fix.
So what are some of the ways that Korea could bring about more economic
benefits
from the Pyeongchang Olympics?
Thank you for your insight today professor.
My pleasure.