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Article: Korean businesses brace for losses as diplomacy falters. (Up Front).
- Article from:
- Los Angeles Business Journal
- Article date:
- March 17, 2003
- Author:
CopyrightCOPYRIGHT 2003 CBJ, L.P. 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. (Hide copyright information)
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Already battered by weak economies here and across the Pacific, Koreatown businesses are bracing for further disruptions if the mounting crisis between the United States and North Korea escalates.
Chief among the concerns are the possibility of an abrupt downturn in an already depressed import-export market, and the fear that Korean-American retailers will be targeted for retaliation if hostilities break out.
"Whenever tensions escalate between South Korea and North Korea, thousands of jobs are at stake," said Charles Kim, executive director of the Korean-American Coalition, a Los Angeles civic group.
In Southern California, 55,000 jobs are ...