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by Tondoteottotote on August 8th, 2008

Tondoteottotote

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I thought inflation and high energy costs went hand-in-hand. How does Korea manage to keep their prices low for many things despite the very high energy costs?

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  • by Cipher on August 8th, 2008

    Cipher

    The South Korean government's Kwasobi Campaign keeps imported items out of Korea and thus generates a substantial retail market for domestic gods within Korea. In turn, that offsets export costs and allows Korean firms to slash prices of export items. This is in direct violation of WTO agreements, but has been the custom in South Korea for decades.

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