By Gemma Q. Casas
Variety News Staff

THE Korean business community is not upbeat about the local economy even in the Year of the Pig which is supposed to usher in prosperity and new opportunities.
Park Jun Soo, the newly elected president of the Korean Association of Saipan and owner of Han Nam Market in Koblerville, said the anticipated exit of the remaining garment factories will negatively impact many businesses.
“I think the Korean community is worried about the economy due to the closure of the garment factories,” Park said.
He said he first arrived on Saipan in 1987 and opened his first store in 1993 whose main customers were garment workers.
“Now we have to switch to the local market,” he said.
Joo Ho Joon, general secretary of the Korean Association of Saipan, said there are more than 4,000 South Koreans based in the CNMI.
Of this figure, more than 1,000 are business owners.
Joo said 2007, the Year of the Pig, will likely bring new opportunities but “it is still not going to be easy — we must find a way to help support the local economy.”
He said the Korean business community is pushing for a stronger tourism industry through the influx of more South Korean students who will study English at Northern Marianas College or other private institutions here.
According to Joo, the more Korean students on Saipan, the more relatives they will bring in, which will help boost the local economy which has been in a slump since 1998.
Park and Joo said many Koreans want to stay in Saipan and are hoping that the Fitial administration, which is now in its second year, can help revive the island’s economy.
“I love it here,” said Park.
Other Koreans say they are hoping that the U.S. extends its military activities to the Northern Marianas once the 8,000 U.S. Marines from Okinawa, Japan are relocated to Guam next year.
They said a military-based economy will encourage more investors to come here.
Two-thirds of Tinian is leased to the U.S. military which has already expressed the intention to expand its presence there, but there are sill no concrete details about its plans to use the island.
Chang-Son Kim, South Korea’s consul general to Guam, said he has asked Koreans on Saipan to explore the possibility of expanding their business interests in the CNMI through the open trade and investment policy of the U.S. and South Korea.
Kim was here yesterday to attend the local Korean community’s Lunar New Year celebration at the World Resort Hotel.