Furs to Moscow. (South Korea's economic relations with Eastern Europe) (Business)

Economist (US), The, May, 1989

Furs to Moscow

THE newly arrived first political secretary at the Hungarian embassy in South Korea recently received an odd request. A restaurateur came to his office, demanding advice on cookbooks, Hungarian music and decorating. With the diplomat's help, he opened South Korea's first-ever Hungarian cafe.

Hungary is the first communist country to decide, on solid business grounds, to have an embassy in Seoul. For years Eastern European governments vilified South Korea as an American puppet. Now they care less about ideology and a lot more about plugging into one of the world's fastest-growing economies. The South Koreans are equally keen on Eastern Europe. They want to diversify their trade away from America and Japan.

South Korea's trade...

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