Investors stage protests

Press, 13 December 1989, Page 44

Investors stage protests

NZPA-AP ' Seoul Stock investors continued sit-ins and other protests in South Korea on Monday as share prices kept declining despite a series of Government measures intended to stimulate the country’s sluggish economy. • Hundreds of angry investors staged sitins and disturbed operations at securities companies in the southern cities of Pusan, Kwangju and Chonju, urging the Government to work out substantial measures to boost stock prices, said Yonhap, the South Korean news agency. Share prices fell for the ninth consecutive trading day on Monday, pushing the key stock index down to 844, its

lowest level this year. Share prices began to tumble after the index passed the 1000 mark in April. Securities companies attributed the decline to overall economic sluggishness stemming from declining exports and protracted labour disputes. The Government has taken various measures, including subsidising securities companies and others with several billion United States dollars, but share prices have continued declining. There has been a wave of protests by investors in Seoul and other cities, with some criticising President Roh Tae-woo and the Government’s economic policy.