KOREAN COMPANIES PREPARE AGAINST WON'S SHARP RISE NEXT YEAR.

AsiaPulse News, October, 2003

SEOUL, Oct 23 Asia Pulse - South Korea's major companies are crafting plans to prepare for a possible sharp rise in the won against the dollar next year, according to industry sources Thursday.

Samsung Group, the country's largest conglomerate, is busy preparing against the much-feared sharp increase in the won against the dollar next year.

The Samsung Economic Research Institute had estimated next year's average exchange rate would be at 1,100 won per dollar, saying that the country would see a year-on-year increase of 2 per cent in inflation.

However, major Samsung-affiliated companies are making contingency plans for fear that the won may skyrocket against the dollar to below 1,000 won.

Yun Jong-yong, vice chairman of Samsung...