S.Korea Dependent on Capital Inflows From Europe, BOK’s Kim Says

Bank of Korea Governor Kim Choong Soo comments on the impact of Europe’s sovereign-debt crisis on South Korea. He was speaking at the World Economic Forum’s annual meeting in Davos, Switzerland.

On the impact from Europe: “We depend very much upon capital inflow from Europe and because of the sovereign crisis European banks began deleveraging and that affects our economy.”

On 2012: “I don’t dare to predict but I do hope that Europeans somehow find a way to solve the problem.”

On changes in North Korea: “We have had such geopolitical risk for a long period of time but I don’t think we are very much worrying about that for the moment.”