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COPYRIGHT 2004 Asia Pulse Pty Ltd
SEOUL, Jan 30 Asia Pulse - Faced with a severe business slump at home, South Korean makers of consumer products are turning to overseas markets in a desperate effort to find new sources of profits.
Local companies' overseas push has been prompted by the fact that domestic demand, their main growth engine, remains in the doldrums as consumers are reluctant to open their purses due to dwindling incomes.
According to government figures, consumer spending contracted 1.1 per cent in 2003 from the previous year, a sharp turnaround from a...
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