Good news came out of South Korea. Factory output in November saw its biggest gain in six years, along with record exports and increased consumer spending. "A third straight increase in production shows the economic environment is improving." And the government says economic growth will accelerate to 5% in 2006 (estimated 3.9% for 2005).
Samsung and Hyundai are two companies enjoying the increased exports and the pick up in domestic spending. Fourth quarter profits at Samsung are expected to exceed forecasts and Hyundai had the highest monthly car sales in two years.
Exchange traded funds offer a way to invest in South Korea, one such ETF is the iShares MSCI South Korea Index Fund (EWY). It is up 53% for 2005.
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.