Surviving the Coming Korean Economic Crunch

I’m starting this thread in response to a thread posted earlier on Dave’s from people who were in Korea during the 1997 Asian crash. Personally, I was in Taiwan at the time, which didn’t take too bad of a hit on its currency. I figure, maybe 15-20%. At the time, I knew nothing about economics and the market and couldn’t have cared less. I expect another crash soon, and the direction I’d like to take this thread is strategies not only to survive but to possibly profit in the long run from a crash.

The market is different this time around, in 1997; Asian currencies fell against a strong US dollar. Now however, the US dollar is weak, and the price of gold (silver and other precious metals) and oil are sky high as a result. This is leading to high inflation in food and transportation. In the original thread, some people mentioned buying stocks that were low in price and rebounded as the Korean economy came out of the recession. A few mentioned that they simply kept their money in the bank and made money as the exchange ratio returned to “normal.”

So far, my strategy has been rather unsophisticated. I’ve been buying gold and silver coins. For reasons of simplicity and recognition, I have been mostly buying (or exchanging gold I have bought for) Krugerrands and buying silver in the form of old 90% and new American Silver Eagle coins. I have a nice little nest egg started, but I’d like to have some plans on investing the right way and earning more from the precious metal stash I have now. As stated before, the economic environment of this crash will be different from 1997, so different strategies may be called for.

Some ideas I had were owning gold or silver, buying stock in fertilizer (and farming related) companies such as POT (Potash Corp), base metals (copper, for example), a few value stocks in China after the currency goes down. Buying foreign currency denominated government bonds in raw materials exporting countries (such as Aussie $, Canada $, even Swiss Franc). Some gold or junior mining stocks (USA, Aussie or Canada) may be good investments as well.

But with the exception of a few of the industries above, I don't see investment opportunities/strategies (in world markets) will be very plentiful. What I’d like to do is focus specifically on Korea. With that, I’d like to start this thread. Ideas or comments, please?

Original thread on Dave’s ESL Café:
Who Else Was Here During the Collapse of '97?
http://forums.eslcafe.com/korea/viewtopic....&highlight=

Wikipedia Article: “1997 Asian Financial Crisis”
http://en.wikipedia.org/wiki/Asian_financi...sis#South_Korea