The Korean Exodus?
September 22, 2008 by lisa
Filed under business & economy
Here’s an alarming news account that I read on the web yesterday: that I have reproduced in toto:
Thousands of Koreans leaving Baguio City
Thousands of Koreans have left and business establishments owned by the foreigners in Baguio City have closed due to bankruptcy.
The Bureau of Immigration said from 10,000 last year, only 4,000 Koreans are living or studying in Baguio City.
The Baguio City government said many Korean establishments have been closed because of bankruptcy.
Koreans interviewed by ABS-CBN News said the establishments went bankrupt because of the worsening economy of the Philippines.
