Japan to take over South Korea

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from Hsinhua Japanese monopgly capital is stepping up its infiltration into South Korea, and the Pak Jung Hi clique is in ever greater debt to Japanese big business, according to reports from Seoul. The unfavourable balance of trade between South Korea and Japan in the first quarter of this year amounted to 24,840,000 dollars- an increase of 12,610,000 dollars as compared with the figure for the end of February, according to the South Korea news agency, Dongwha Tongshin, quoting official data from a ministry of the South Korean puppet regime. By April 13th the Pak Jung Hi clioue borrowed or decided to borrow from Japanese monopoly capital ‘commercial loans! to the tune of 211,407,000 dollars, according to another South Korean news agency, Hapdgng Tongshin, quoting official data of the puppet authorities. The interest rates on these loans vary from 5.75% to 8%, and they are to be repaid within five to seven years, The Pak Jung Hi clique has to iake payments of more than 14 million dollars every year just to cove: the interest on these loans, With the infiltration of Japanese monopoly capital, dealings 4n Japanese currency are growing in South Korean cities. In geoul and Pusan, the total amount of transactions in Japanese currency vary from 5= 10 million yen a day. This not only creates "chaos in the system of foreign currency exchange management" in South Korea, but also causes "greater damage to tle South Korean economy as a whole", the report said,