THE LARGEST international debt deal to come out of Korea since the republic's jumbo $4bn bond in April last year was launched into the US this week by RH Cement, a borrowing vehicle of the collapsed Halla conglomerate. Taken alongside a decision by rating agency Fitch IBCA to upgrade Korea to investment grade status, the $315m deal provided one of the most striking indications yet that investors, buoyed by hopes of economic recovery, are prepared to put their money back to work in Asia.
January 22, 1999