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...familiarity. During the 1997 Asian financial crisis, the South Korean won lost 52% of its value against the dollar. Things haven't gotten that bad yet in 2008, but there are still plenty of sudden bargains in the Land of Morning Calm, long an unjustly ignored travel destination. Bewildering Seoul boasts dramatic mountains, spicy street food and gorgeous royal palaces. Beyond the capital - where almost half the country lives - South Korea has arty port cities like Busan and cultural centers like Gwangju. And anywhere in the country you can get soju - the potent rice wine that will enable...

Author: /time Magazine | Title: 5 Best Places to Travel in a Recession | 11/4/2008 | See Source »

...Seoul's decision to guarantee external debt incurred by South Korean banks was cheered by market analysts. Goldman Sachs noted in a report that the package - which totals some 13% of Korea's GDP - will "go a long way toward stabilizing the jittery financial markets in Korea." Fitch Ratings added that "these measures will ensure sufficient U.S. dollar liquidity to the banking system and real economy." Investors responded positively, but cautiously. The benchmark Kospi stock market index rose 2.3% on Monday, while the won gained 1.4% against the dollar...

Author: /time Magazine | Title: Asian Nations Step Up Support as Crisis Rolls On | 10/20/2008 | See Source »

...attacked a new week of trading. Japan's Nikkei index climbed 3.6%, Hong Kong's Hang Seng rose 5.3%, and South Korea's Kospi jumped for the first time in a week: a 2.3% hike inspired in part by a $130 billion government assistance plan for banks announced in Seoul on Sunday...

Author: /time Magazine | Title: Markets Cheer Calls to Overhaul Global Finance | 10/20/2008 | See Source »

...With reporting by Don Duncan / Hong Kong, Yuki Oda and Michiko Toyama / Tokyo, Natalie Tso / Taipei and Jennifer Veale / Seoul...

Author: /time Magazine | Title: Fear and Despair as Asia Markets Plunge Again | 10/10/2008 | See Source »

...near free fall in Asian stocks that began on Monday. In Japan, the world's second-largest economy, the benchmark Nikkei index plummeted 9.4%, its biggest one-day drop since the global stock market crash of October 1987. Hong Kong's benchmark Hang Seng index fell 8.2%, while Seoul's Kospi dropped 5.8%. Indonesia shut down its stock market after shares plunged more than 10%. It is unclear when trading will resume. "We need to watch further before we can open," Erry Firmansyah, the exchange's president, told reporters...

Author: /time Magazine | Title: US-Europe Rate Cut Comes Too Late for Asia | 10/8/2008 | See Source »

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