By William Oberlin
It is no secret that the world economy is struggling today. As we live in an integrated global economy, it is impossible for countries to overlook the difficulties that the United States and other economies are facing.
Around the world, foreign investments are being reduced and are heading back home to shore up their corporate balance sheet while consumers are becoming more cautious in their spending. With over 70 percent of Korea's GDP tied to exports, it is inevitable that the Korean market would be affected by the economic crisis.
However, it is times like this that many economists view as an opportunity to implement needed change to ensure future competitiveness and create new opportunities.