South Korea will be hit particularly hard by incoming U.S. President Donald Trump’s pivot to protectionism. Uncertainties about the future of South Korea’s relationship with the U.S. come at a time of intense internal upheaval. Allegations that President Park Geun-hye was complicit in the extortion of millions of dollars from corporations is seeing the heads of conglomerates – the chaebol – paying unwilling visits to the office of the supreme public prosecutor. At the same time, the first-half revenues of the top 30 chaebol dropped 3% year-on-year and investment plans are down by 30%.
