Short-term pain and long-term gains.(South Korea chemical industry growth strategy is examined) From: Chemical Market Reporter | Date: May 28, 2001| Author: Richardson, John | COPYRIGHT 2001 Schnell Publishing Company, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group.Copyright information

South Korea has made huge progress since 1998 in restructuring its corporate and financial sectors. Few observers doubt that the country as a whole will make the further changes necessary for it to be more able to withstand future external economic crises. However, serious doubts persist over whether South Korea's petrochemical industry will ever be truly globally competitive, reports John Richardson of Asian Chemical News

There can be no turning back for South Korea. It...